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Define open economy and explain the components of GDP in an open economy. What is the difference between trade surplus, trade deficit, and balanced trade?
Define open economy and explain the components of GDP in an open economy.
What is the difference between trade surplus, trade deficit, and balanced trade?
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
