11. Not too long ago, Latin America was awash in military juntas, closed economies and shantytown slums. 12. These included the adaptation of the closed economy and nationalization of many private business and lands. 13. The model structure with a set of equations for a simple closed economy is given by: 14. This has never been a closed economy . 15. Whereas the traditional IS-LM Model deals with a closed economy , Mundell Fleming describes a small open economy. 16. But these closed economies ultimately proved unsustainable. 17. Nehru used his solid majority to abandon Gandhian tenets and herd Parliament into accepting a closed economy . 18. In a simple model of a closed economy , anything that is not spent is assumed to be invested: 19. The junta has liberalized what had been a closed economy , but has done little to restore democratic rule. 20. The junta has liberalized what had been a closed economy , but has done nothing to restore democratic rule.
