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Rank the following countries according to economic freedom. Hong Kong USA Norway Germany

Rank the following countries according to economic freedom.

Hong Kong

USA

Norway

Germany

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Answer #1

Basically, economic freedom or economic liberty may be defined as the ability of the people of the society to take economic decision. In the liberal or free society people are free to work, produce and consume and invest the way they want. The ranking of Economic freedom is based upon rule of law, government size, regulatory efficiency, open market operations.

According to the economic report published by heritage foundation and the wall street journal 2020 ,from the given countries

The first rank goes to Hong Kong as it has maximum economic freedom index having the score of 89.1.

The second rank goes to U.S.A as it has a score of 76.6.

Third rank goes to Germany having score of 73.5.

Fourth rank goes to Norway as it has a score of 73.4.

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