Sia
Question
Macroeconomics
Posted 10 months ago
What does it mean to say that a country is "under autarky"?
Choose 1 answer:
(A) It does not engage in international trade
B) It has no restrictions on international trade
(C) It imposes tariffs on imported goods
(D) It imposes tariffs on exported goods
(E) It imposes import quotas
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Answer from Sia
Posted 10 months ago
Solution
a
Definition of Autarky: Autarky refers to a situation where a country is self-sufficient and does not engage in international trade
Answer
A. It does not engage in international trade
Key Concept
Autarky
Explanation
Autarky is an economic policy or situation in which a nation is self-sufficient and does not import or export goods with other countries.
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