The United States Can Be Classified as an "Open" Economy

question 238

True/False

The United States can be classified as an "open" economy in that foreign trade accounts for more
than 50 percent of its GDP.

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Definitions:

Inventory Decrease

A reduction in the quantity of goods held in stock by a business.

Performance Measures

are metrics used to evaluate the efficiency, effectiveness, and productivity of an operation, employee, or process.

Interest Expense

The cost incurred by an entity for borrowed funds, paid as interest to lenders or creditors.

Operating Assets

Assets used in the day-to-day operations of a business to generate income.