![Lecture 9 Open-Economy. Open and Closed Economies – A closed economy is one that does not interact with other economies in the world. There are no exports, - ppt download Lecture 9 Open-Economy. Open and Closed Economies – A closed economy is one that does not interact with other economies in the world. There are no exports, - ppt download](https://images.slideplayer.com/27/9136765/slides/slide_2.jpg)
Lecture 9 Open-Economy. Open and Closed Economies – A closed economy is one that does not interact with other economies in the world. There are no exports, - ppt download
For a closed economy, the national income identity is written as Y $ C!Y T" # I!r" # G Nthe left hand side of t
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