Which of the Following Correctly Describes a Closed Economy

question 89

Multiple Choice

Which of the following correctly describes a closed economy?

• A) In a closed economy, consumption by households is equal to zero.
• B) A closed economy is one where there is no government sector.
• C) In a closed economy, investment by domestic firms is equal to zero.
• D) A closed economy is one that depends entirely on domestic consumption and investment.

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Definitions:

Semantic Memory

Semantic Memory is a type of long-term memory involving the capacity to recall words, concepts, or numbers, which is essential for understanding language and facts.

Episodic Memory

An enduring memory type that encompasses the recall of specific instances, settings, and personal encounters.

Retroactive Interference

Situation in which material that was learned later disrupts the retrieval of information that was learned earlier.

Memory Retrieval

The act of retrieving or summoning back to awareness information stored in memory.