Once Seen as a Dynamic Economic Powerhouse, Japan Has Been

question 21

Multiple Choice

Once seen as a dynamic economic powerhouse, Japan has been, since the 1990s, mired in a lingering economic recession. This has resulted in

• A) a chronic budget deficit and growing national debt.
• B) the government budget growing at a rate faster than the national economy.
• C) government efforts to increase revenue such as raising the rate of the value added tax.
• D) a sharp decline in the level of official development assistance ("foreign aid") by the government.
• E) all of these.

---

Definitions:

Unsecured Debt

Debt that is not backed by any collateral, meaning if the borrower defaults, the lender has no secured asset to claim for repayment.

Mortgage

A loan typically used to purchase property or real estate, where the property itself serves as collateral for the loan.

Title

The legal right to own, use, or dispose of something, particularly property or intellectual property.

Security

A financial instrument representing an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.