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Question Practice

What happens to income in a closed economy?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Macroeconomics
National Income Accounting
Question Bank

What happens to income in a cl...

Single Answer MCQ
Q-00106708

What happens to income in a closed economy?

1

It is lost to foreign markets

2

It circulates continuously between households and firms

3

It is taxed by the government

4

It accumulates in banks

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