Which of the following is used to describe an 'open' economy?
A) One that has few or no barriers to international trade.
B) One that exports a small proportion of its output.
C) One that is open to technological ideas from other countries.
D) One that is open to immigration from other countries.
Correct Answer:
Verified
Q3: Firms offshore
A) to obtain a higher quality
Q6: Offshoring is
A) when workers in a foreign
Q7: Imports are goods and services bought domestically
A)but
Q8: A tariff is a tax imposed by
Q11: In 2009,approximately what proportion of world merchandise
Q11: Exports are domestically produced goods and services
A)sold
Q13: Between 1960 and 2010,Australia's imports increased from
Q17: Workers in industries protected by tariffs and
Q31: What are three primary reasons for the
Q36: What is a tariff?
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