An Open Economy Is One That Trades with Other Nations

question 12

True/False

An open economy is one that trades with other nations in goods and services, and perhaps also trades in financial assets.

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Definitions:

Charles Beard

An influential American historian who proposed that the U.S. Constitution was a product of economically motivated interests.

Constitution

The system of fundamental principles or established precedents according to which a state or other organization is governed.

Economic Interests

The financial stakes or concerns in a policy, project, or action that motivates individuals, groups, or nations.

Popular Sovereignty

The idea that a state's power and governance are established and upheld with the approval of its citizens, via their chosen delegates.