A nation that has an open economy:
A)allows private ownership of capital
B)has flexible exchange rates
C)has fixed exchange rates
D)trades with other nations

Question

Quizplus · Accepted Answer

An open economy is one that trades with other nations, allowing for imports and exports of goods and services. Private ownership of capital can exist in both open and closed economies, and the choice between flexible and fixed exchange rates does not necessarily determine whether an economy is open or closed.

A Nation That Has an Open Economy