Which of the Following Is the Most Accurate Characterization of the Japanese

question 294

Multiple Choice

Which of the following is the most accurate characterization of the Japanese model of government-guided free market economy that served it so successfully in the decades following World War II?

• A) A small, flexible bureaucracy provides enforcement of regulations and collects taxes, leaving the free market to operate without interference.
• B) A powerful bureaucracy determines production levels and resource commitments to domestic industries, which are all state-owned.
• C) A strong bureaucracy provides financial assistance, advice, and protection from foreign competition to domestic industrial enterprises.
• D) A small bureaucracy maintains a high level of economic efficiency by ensuring multiple domestic and foreign competitors.