The U.S. economy has become a less closed economy over the past 50 years.
True
False

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The U.S. economy has become a less closed economy over the past 50 years. True False

UpStudy AI · Accepted Answer

The statement "The U.S. economy has become a less closed economy over the past 50 years" is **True**.

### Explanation:
1. **Definition of a Closed Economy**: A closed economy is one that does not engage in international trade; it does not import or export goods and services. In contrast, an open economy engages in trade with other countries.

2. **Historical Context**: Over the past 50 years, the U.S. has significantly increased its levels of international trade. This includes both imports and exports of goods and services.

3. **Trade Agreements**: The U.S. has entered into numerous trade agreements, such as NAFTA (now USMCA), the WTO agreements, and various bilateral trade agreements, which have facilitated increased trade with other nations.

4. **Globalization**: The trend of globalization has led to more interconnected economies, and the U.S. has been a major player in this process, further integrating its economy with the global market.

5. **Economic Indicators**: Various economic indicators, such as the ratio of trade (exports + imports) to GDP, show that the U.S. economy has become more open over the decades.

In conclusion, the U.S. economy has indeed become less closed over the past 50 years, making the statement true.
The U.S. economy has become less closed over the past 50 years.

The U.S. economy has become a less closed economy over the past 50 years.
True
False

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