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-The Table Above Shows Japan's Real GDP Between 1991 to 2001

question 48

Essay

  -The table above shows Japan's real GDP between 1991 to 2001. a) Draw a figure with Japan's real GDP from 1991 to 2001. b) In the previous 30 years, the growth rate of Japan's potential GDP was 6 percent a year. On your graph, show the path that potential GDP would have followed if its GDP in 1991 was equal to potential GDP and the growth rate of potential GDP had been maintained in 1991-2001. c) Show the Lucas wedge on your figure.
-The table above shows Japan's real GDP between 1991 to 2001.
a) Draw a figure with Japan's real GDP from 1991 to 2001.
b) In the previous 30 years, the growth rate of Japan's potential GDP was 6 percent a year. On your graph, show the path that potential GDP would have followed if its GDP in 1991 was equal to potential GDP and the growth rate of potential GDP had been maintained in 1991-2001.
c) Show the Lucas wedge on your figure.

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Definitions:

Johnson-Reed Act

A 1924 United States federal law that limited the number of immigrants who could be admitted from any country to 2% of the number of people from that country who were already living in the United States as of the 1890 census.

Immigration Restriction

Policies or laws designed to limit or control the numbers and characteristics of immigrants allowed to enter a country.

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Group organized in Pulaski, Tennessee, in 1866 to terrorize former slaves who voted and held political offices during Reconstruction; a revived organization in the 1910s and 1920s that stressed white, Anglo-Saxon, fundamentalist Protestant supremacy; revived a third time to fight the civil rights movement of the 1950s and 1960s in the South.

Native-Born Protestants

Individuals born in a country, identifying as Protestants, emphasizing their native status in contrast to immigrants or minorities.

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