Japan's Economy

question 77

Multiple Choice

Japan's economy

• A)is not as large as China's.
• B)slowed substantially in the 1990s.
• C)has seen sustained gains in its real estate values over the last two decades.
• D)is currently the largest in the world.
• E)did not begin to industrialize until after World War II.

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Definitions:

Labor Market Segmentation

The division of the labor market into distinct sub-markets or segments, each with its own wage rates, conditions, and employment opportunities, often based on skill level, industry, or geography.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations and marked by significant events like the Holocaust and the use of nuclear weapons.

Internal Labor Markets

Are social mechanisms for controlling pay rates, hiring, and promotions within corporations while reducing competition between a firm’s workers and external labor supplies.

Labor Market Shelters

Labor market shelters refer to policies or measures designed to protect workers and industries from economic shocks and job losses.