If Atlantis Has an Open Economy, Then It

question 118

Multiple Choice

If Atlantis has an open economy, then it:

• A)trades with other countries.
• B)does not trade with other countries.
• C)has a democratically elected government.
• D)allows imports but not exports.

---

Definitions:

Gross Profit

The difference between revenue and the cost of goods sold, before deducting overheads, salaries, and other operating expenses.

Net Income

After deducting taxes and expenses from its revenues, the resultant profit of a company.