The Concept of an Open Economy Means That

question 94

Multiple Choice

The concept of an open economy means that

• A) imports should be limited while exports should be expanded.
• B) a nation's borders are open to flows of imports and exports.
• C) exports should be controlled but imports should be allowed in without restriction.
• D) imports and exports should be restricted.

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Definitions:

Low Reliability

The extent to which an assessment or measure lacks consistency over time or across different contexts.

Class Average

The mean score or grade of a group of students.

High Reliability

Describes organizations or systems with processes and practices in place that make them exceptionally consistent in achieving their goals, especially in avoiding catastrophes in high-risk environments.

Psychological Test

A standardized procedure designed to measure an individual's mental performance, personality characteristics, or behavioral style.