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Question

Which of the following correctly describes an Open Economy?

A An economy that facilitates free entry and exit Correct Answer Incorrect Answer
B An economy that interacts with other countries Correct Answer Incorrect Answer
C An economy that has no Government role Correct Answer Incorrect Answer
D A country that has porous borders Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

An open economy is one which interacts with other countries through various channels. Most of the modern economies are open economy.

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