An Open Economy

question 70

Multiple Choice

An open economy

• A) can save only by building up its capital stock.
• B) can save only by acquiring foreign wealth.
• C) cannot save either by building up its capital stock or by acquiring foreign wealth.
• D) can save either by building up its capital stock or by acquiring foreign wealth.
• E) can save by avoiding excessive imports.

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Definitions:

Childhood Experiences

The range of events, learning opportunities, relationships, and activities that an individual is exposed to and engages with during their early years of life.

Personality Plastic

The concept that an individual's personality can change over time due to experiences, often implying a degree of malleability in personal traits.

Economic Upswings

Periods when the economy experiences growth, leading to increased employment rates and higher consumer spending.

Ethnic Identity

is an individual's sense of belonging to a specific ethnic group, including the adoption of certain group characteristics and cultures.