Economics · Macroeconomics
Which of the following best defines an open economy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An economy with strictly fixed prices and wages
- 2An economy restricted only to domestic production and consumption
- 3An economy that actively interacts with other countries through trade and financial flows✓
- 4An economy operating completely without government intervention
Correct answer
An economy that actively interacts with other countries through trade and financial flows
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