How does the United States compare to other advanced, industrialized economies on the issue of openness?
A)The U.S.economy is completely closed.
B)The U.S.economy is at the low end of openness.
C)The U.S.economy is above average in openness.
D)The U.S.economy is among the most open.
E)The U.S.economy is the most open of any economy.

Question

Quizplus · Accepted Answer

The U.S. economy, when compared to other advanced, industrialized economies, is at the low end of openness. This is measured by looking at metrics such as trade (exports and imports) as a percentage of GDP, where the U.S. typically has lower ratios than many of its peers, indicating a relatively lower level of openness to international trade and investment.

How Does the United States Compare to Other Advanced, Industrialized