Illustrate the about term the open economy in short.
The Open Economy:
a. A closed economy is an economy which does not trade goods-services as well as assets.
b. The United States has turn into increasingly open; therefore open economy macroeconomics has turned into increasingly significant.
c. Open-economy macroeconomics is the learning of those aspects of macroeconomics which are influenced by movements of goods-services as well as assets across national boundaries.