An Economy That Does Not Have Interactions in Trade or Finance

question 100

Multiple Choice

An economy that does not have interactions in trade or finance with other economies is referred to as

• A)an open economy.
• B)a closed economy.
• C)a trade-balanced economy.
• D)a net foreign investment economy.

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Definitions:

The Caribbean

A region consisting of the Caribbean Sea, its islands (including the West Indies), and the surrounding coasts.

Eliza Lucas

A notable historical figure who, in the early 18th century, developed indigo as a major cash crop in South Carolina, significantly impacting its economy.

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

South Carolina

A state in the southeastern region of the United States, known for its historical significance, including its role in the American Civil War.