Which of the Following Statements About a Closed Economy Is

question 56

Multiple Choice

Which of the following statements about a closed economy is NOT correct?

• A) Investment and consumption are to be satisfied with the same output.
• B) Investment and consumption are at odds with each other.
• C) A closed economy has to be self-sufficient.
• D) Consumption smoothing and an increase in investment can be achieved simultaneously.

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Definitions:

Metabolic Reaction

Biochemical processes that occur within living organisms to maintain life, including breaking down substances for energy and constructing new substances.

Chemical Work

The energy required to drive chemical reactions necessary for cellular processes.

Building a Protein

The process of translating mRNA into a polypeptide chain, which then folds into a functional protein.

Enzymes

Biological catalysts that speed up chemical reactions in living organisms without being consumed in the process.