Which of the following would characterize a nation with high degree of economic freedom?

Question

Quizplus · Accepted Answer

A nation with high degree of economic freedom would have low tariffs as it means there are fewer restrictions on imports and exports, allowing for more free trade and competition. Strict trade policies and government interventions would limit economic freedom, as they involve more regulation and control over the economy. Flourishing black markets may indicate a lack of government regulation, but it does not necessarily signify economic freedom as it involves illegal activities.

Which of the Following Would Characterize a Nation with High