An economy that does not import or export goods
No
no
By open economy it means that economy in which private people are allowed to participate in making economic decisions while,by closed economy it means the economy in which the government is the one planning for the whole society
CHINA!
closed economy
GM, Gotchalks, Mervans
It is a free STATE that is closed by slavery. You know..... like when there is a free state, there is NO slavery. Therefore, it is like slavery is closed, that is way it is called closed to slavery.
The economy is no longer closed and all other assumptions hold.
contract the money sypply
There have been over 40 Cinnabon stores that have been closed in the last decade. This is due to a harsh economy and cutbacks.
The equilibrium and the real GDP usually occurs where C plus LG equals GDP in a private closed economy because of the balance in trade.
Income and taxes