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To determine the proportion of variance in the dependent variable that is explained by the independent variable, which of the following needs to be derived?
Open Economy
An economy that engages in international exchange of goods, services, and capital by allowing cross-border trade and investment.
GDP
Gross Domestic Product, the total market value of all final goods and services produced within a country in a specific time period, used as an indicator of economic health.
NX
Represents net exports, which is the value of a country's total exports minus its total imports and is a component of a country's gross domestic product (GDP).
Trade Surplus
Trade Surplus occurs when the value of a country's exports exceeds the value of its imports.
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