Open economy
Revision as of 18:13, 2 July 2020 by Kainat9 (talk | contribs) (Created page with "Open economy is an economy in which people can freely engage in international trade in goods and capital. (Cf. closed economy.) ==Definition== According to Macroeconomi...")
Open economy is an economy in which people can freely engage in international trade in goods and capital. (Cf. closed economy.)
Definition
According to Macroeconomics by Mankiw (7th edition),
- Open economy. An economy in which people can freely engage in international trade in goods and capital. (Cf. closed economy.)
