Why do economists sometimes conduct analysis under assumptions of a closed economy? What do you understand by

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Why do economists sometimes conduct analysis under assumptions of a closed economy? What do you understand by the term an ‘open economy’?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 26, 2024 02:01 AM

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Why do economists sometimes conduct analysis under assumptions of a closed economy? What do you understand by

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Answer Economists sometimes conduct analysis under assumptions of a closed economy to simplify their ...View the full answer

Economics

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