Homework Answers
Answer
Openness index = [(Import + export)/GDP]*100
Using above formula :
Openness index of Country Alpha = [(100 billion + 100 billion)/(2000 billion)]*100 = 0.1*100 = 10% and
Openness index of Country Beta = [(50 billion + 50 billion)/(1000 billion)]*100 = 0.1*100 = 10%
Hence the correct answer is (c) 10% and 10%.
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