What Contributed to Japan's Postwar Economic "Miracle

question 63

Multiple Choice

What contributed to Japan's postwar economic "miracle"?

• A) The Japanese military's pressure to accelerate national industrial growth
• B) The Soviet Union's infusion of experts and machinery
• C) The Japanese government's protectionism and partnerships with private firms
• D) The complete elimination of trade barriers with European countries

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Definitions:

Rent-Seeking

The practice of gaining economic benefits through manipulation or exploitation of the political environment rather than through traditional economic competition.

Antitrust Exemption

Legal provisions that allow certain industries or companies to avoid full compliance with antitrust laws, often justified by arguments of national interest or market efficiency.

Voting Paradox

A situation in collective decision-making where individual preferences do not result in a consistent collective order of preferences, showing the complexity of social choice.

Impossibility Theorem

A theory stating that no rank-order voting system can meet certain desirable criteria, famously outlined by Kenneth Arrow.