Definition of an autarky

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A country wants to design a policy to increase the national saving rate in next year. Which of the following statements is true from an earth economic perspective?

  1. Savings policy is incompatible
  2. Savings policy is inefficient 
  3. Savings policy suffers from leakage
  4. Savings policy suffers from the fallacy of composition

Which definition of an autarky most completely describes its characteristics?

  1. Autarky is a situation in which an economy cannot export to other economies
  2. A country with a zero trade balance is autarkic
  3. An autarky is a closed economy
  4. Autarky exists when an entity can survive or continue its activities without external assistance or international trade.

Reference no: EM133128651

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