An economy which does not have any relation with the rest of the world is known as____________
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Correct Answer: Option C
Explanation:
a closed economy is the economy that does not have international trade. Its \(\mathrm{Ni}\) equation is represented as \(\mathrm{Y}=\mathrm{C}+\mathrm{I}+\mathrm{G}\)
a closed economy is the economy that does not have international trade. Its \(\mathrm{Ni}\) equation is represented as \(\mathrm{Y}=\mathrm{C}+\mathrm{I}+\mathrm{G}\)