Multiple Choice
What is the difference between an open economy and a closed economy?
A) A closed economy has sealed borders and allows no tourism or migration.
B) An open economy has very few restrictions on trade or financial flows.
C) A closed economy has very tough wage and hour laws and will not tolerate labor unions.
D) An open economy has lax restrictions on drugs or other illegal activities.
Correct Answer:
Verified
Correct Answer:
Verified
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