Question

Which of the following statements is most accurate about the economies of North Korea and South Korea?

Multiple Choice

• Starting from similar economic positions prior to their division after World War II, South Korea's economy has grown to about 40 times the size of the North Korean economy.

• Since their division after World War II, North Korea's economy has achieved greater economic growth than South Korea.

• The economies of both North Korea and South Korea have grown at approximately the same rate since Korea was divided after World War II.

• Since their division after World War II, South Korea has grown much faster than North Korea, but their GDP per capita remains roughly equal.

Answer 1

Answer- Correct option is 'D'

''Since their division after World War II, South Korea has grown much faster than North Korea, but their GDP per capita remains roughly equal'', this statement is most accurate about the economies of North Korea and South Korea. South Korea has devoted extra attention to technology development and innovation to promote growth. Innovation and technology are the key factor that have underpinned South Korean export competitiveness and fueled the country's remarkable economic rise over the past decades. North Korea had a similar GDP per capita to its neighbour South Korea.