A country like North Korea
A)probably rejects the notion of increased opportunity presented by free trade.
B)engages in free trade.
C)lies on a production possibilities curve superior to South Korea, since North Korea protects its domestic producers.
D)none of the above

Question

Quizplus · Accepted Answer

North Korea is a closed economy that heavily regulates trade and commerce. The government-run economy is not open to free trade or foreign investment, and opportunities for entrepreneurial activity are severely limited. Therefore, it's unlikely that North Korea would embrace the idea of increased opportunity presented by free trade.

A Country Like North Korea