Asked by Charol Pelagio on Jun 27, 2024
Verified
The primary focus of the open-economy macroeconomic model is the determination of GDP and the price level.
Open-Economy Macroeconomic
A branch of macroeconomics that studies economies in which international trade and financial transactions play a significant role.
- Comprehend the primary focus of the open-economy macroeconomic model, including the determination of GDP and the price level.
Verified Answer
FT
Fakiyesi TosinJun 28, 2024
Final Answer :
False
Explanation :
The primary focus of the open-economy macroeconomic model is to understand the interactions between the domestic economy and the rest of the world, including trade balances, exchange rates, and capital flows, rather than solely determining GDP and the price level.
Learning Objectives
- Comprehend the primary focus of the open-economy macroeconomic model, including the determination of GDP and the price level.
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