Evaluate the Statement That "For an Open Economy the Equilibrium

question 36

Essay

Evaluate the statement that "for an open economy the equilibrium GDP always corresponds with an equality of exports and imports."

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Definitions:

Frequency Distribution

Frequency distribution is a summary of how often different values occur within a data set, helping to understand the distribution of data points across various categories.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical data for analysis.

Yellow

A primary color perceived when light with a dominant wavelength between approximately 570 and 590 nanometers is present.

Ordinal

Refers to data that represents categories with a meaningful order, but where the differences between the categories cannot be quantified.