What kind of country would most likely have a "small open economy"?
A) a country that trades with other countries and consistently has a trade surplus
B) a country that trades with other countries and consistently has a trade deficit
C) a country that trades with other countries and has a significant effect on world prices
D) a country that trades with other countries, but has a negligible effect on world prices

Question

Quizplus · Accepted Answer

A small open economy is characterized by its engagement in international trade but with a negligible effect on global prices due to its small size in the global market.

What Kind of Country Would Most Likely Have a "Small