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Which of the following is correct in an open economy?
Net Exports
The disparity between what a nation exports and what it imports in total.
Import Quota
A limit set by the government on the amount or cost of products allowed to be brought into a country from abroad.
Exchange Rate
The value of one currency expressed in terms of another currency.
Net Exports
The difference between a country's total exports and total imports, measuring the value of goods and services it sells to other countries minus what it buys.
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