If is often said that when large economies such as the USA “sneezes the rest of the world catches cold (flu virus or disease)” meaning macroeconomic fluctuations in large open economies can potentially transmit very quickly to the rest of the world.  Discuss three macroeconomic characteristics of large open economies that made them transmit fluctuations to the rest of the world ((infect others) easily.

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An open large economy import and export goods and services or has trade relation with the other coun... View the full answer