Measuring the openness of an economy The following table contains information on two hypothetical nations, Steelvania and Brownitopia, that exist as part of a larger hypothetical international economy. Use the information provided to compute the openness measure for each country.   Exports Imports GDP Openness Measure Country (Billions of dollars) (Billions of dollars) (Billions of dollars)   Brownitopia 24 21 125       ________ Steelvania 106 97 145       ___

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Measuring the openness of an economy

The following table contains information on two hypothetical nations, Steelvania and Brownitopia, that exist as part of a larger hypothetical international economy.
Use the information provided to compute the openness measure for each country.
 
Exports
Imports
GDP
Openness Measure
Country
(Billions of dollars)
(Billions of dollars)
(Billions of dollars)  
Brownitopia 24 21 125
      ________
Steelvania 106 97 145
      _________
 
Based on your calculations, you can conclude that Steelvania is relatively _____ (less or more) open than Brownitopia.
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