Answer to Question #271590 in Macroeconomics for Maphula

Question

Discuss South Africa as: 

 i. An upper middle income economy. ii. A commodity-based economy. iii. Small 

open economy. iv. Dualistic economy. vs. safe-haven economy. 

Answer 1

South Africa tends to be upper-middle-income economy as in 2019, it's financial industry was able to contribute US$41.4 billion to the GDP of South Africa. During 2021, the country's-based financial institutions were managing about 1.41 trillion US dollars in assets.