Many Economists Argue That Japan's Remarkable Long- Run Growth Rate

question 17

Multiple Choice

Many economists argue that Japan's remarkable long- run growth rate between 1950 and 1990 was largely due to Japan's

• A)skilled labour force that developed over those forty years.
• B)high consumption rate for high quality electronic products.
• C)high national saving rate.
• D)excessive amounts of money invested into research and development.
• E)restrictive trade barriers which eliminated foreign competition.

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Definitions:

Compromise

An agreement or a settlement of a dispute reached by each side making concessions, often regarded as an effective way to resolve conflicts.

Smoothing

A statistical method applied to data or signals to reduce variability or noise, helping in revealing underlying trends or patterns.

Forcing

A conflict resolution strategy where one party asserts their viewpoint at the expense of another.

5P Checklist

A managerial tool used for ensuring that important aspects of a project or plan are considered, typically standing for Proper Planning Prevents Poor Performance.