An Open Economy Is One That

question 74

Multiple Choice

An open economy is one that

• A) relies on a market system to allocate scarce resources.
• B) relies on central planning to allocate scarce resources.
• C) has a flexible exchange rate.
• D) trades with other countries.
• E) does not trade with other countries.

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Definitions:

Reaction

A process in which substances (reactants) are transformed into different substances (products) through chemical change.

2-Methyl-2-Octene

An organic compound characterized by an eight-carbon chain with a double bond between carbon numbers 2 and 3, and a methyl group attached to the second carbon.

2-Methyloctan-3-Ol

A chemical compound, specifically an alcohol, that is derived by adding a methyl group and a hydroxyl group to an octane chain.

Hydroboration/Oxidation

A two-step organic reaction that converts alkenes into alcohols through a hydroboration step followed by oxidation.