What Restriction Would the Government Impose in a Closed Economy?
Answer :
A. The government would prohibit trade with other nations.
B. The government would set the prices for imported goods.
C. The government would preserve traditional customs only.
D. The government would prevent private ownership of property.
Correct Answer: A. The government would prohibit trade with other nations.
In a closed economy, the government would impose restrictions on international trade, prohibiting imports and exports. This fundamental characteristic of a closed economy highlights the government's aim to maintain control over all economic transactions occurring within the nation's borders.
Related Questions: Which of the Following Will be Accomplished by Efficient Allocations of the Factors of Production?
Resolve all your doubts in One Place
We are craving solutions to your questions with our experts. Search your doubts here, and resolve the queries smoothly
ASK your questionRecently Added Questions
Which of the Following Will be Accomplished by Efficient Allocations of the Factors of Production?
A. Ensuring economic profitability. B. Understanding whether a product will fail. C. Fulfilling many needs and wants of society. D. Replenishment of limited resources. Correct Answer: C. Fulfilling many needs and wants of society. When resources are used wisely, it helps society get what it ...
ViewWhich of the Following Statements About Savings Accounts is False?
A. Savings accounts limit the number of withdrawls that can be made each month. B. Savings accounts don’t usually pay interest on the money you deposit. C. Savings accounts may require you to maintain a minimum balance to paying a fee. D. Savings accounts are best used to store money for ...
ViewA Factor That Most Directly Affects the Demand for Automobiles is:
A. The individual tastes and preferences of buyers. B. The cost of raw materials and natural resources. C. The availability of workers in automobile factories. D. A company's ability to respond to buyers' interest. Correct Answer: D. The individual tastes and preferences of buyers. The demand ...
ViewFor Best Economics Assignment Help
-
343 - Completed OrdersDr. John Hutchison View Profile Ph.D in Nursing UK Hire Me
-
1241 - Completed OrdersBarack Trump View Profile Master's in Business Studies UK Hire Me
-
874 - Completed OrdersMichelle Stewart View Profile Master's in Human Pathology USA Hire Me
-
250 - Completed OrdersRossana Maxwell View Profile MBA - Marketing Australia Hire Me
- Zero Plagiarism
- 24*7 Live Support
- Unlimited Revisions
- Free Plagiarism Report
- Money-Back Guarantee
- No Privacy Infringement
To Make Your Work Original
- Paraphrasing Tool
Easy to Use Paraphrasing Tool to Simplify Complex Academic Writing
Check Paraphrasing - Plagiarism Checker
Check your work against plagiarism & get a free Plagiarism report!
Check Plagiarism - Reference Generator
Get citations & references in your document in the desired style!
Generate References - Grammar Checker Tool
Make your content free of errors in just a few clicks for free!
Grammar Checker - Essay Typer
Generate plagiarism-free essays as per your topic's requirement!
Essay Typer - Dissertation Outline Generator
Get Structured Outline by Professionals for Your Dissertation
Check Dissertation - Thesis Statement Generator
Create the perfect thesis statement in just few minutes!
Generate Thesis - AI Essay Writer
Get a well-researched and quality essay effortlessly in a few seconds.
AI Essay Writer