In 1955, Many African and Asian Nations Met to Create

question 29

Multiple Choice

In 1955, many African and Asian nations met to create an agenda that was to avoid taking sides in the Cold War. This agreement was called the

• A) World Trade Organization.
• B) Non-Aligned Movement.
• C) North Atlantic Treaty Organization.
• D) Organization of Petroleum Exporting Countries.

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Definitions:

Recession

A temporary stage of economic depletion, highlighted by a downturn in trade and industrial action, normally identified by a GDP reduction in two back-to-back quarters.

Stagflation

A situation in the economy where inflation and unemployment rates are high simultaneously, leading to slow economic growth.

Deflation

A decrease in the general price level of goods and services, often indicative of a reduction in the money supply or demand.

Japanese Industrialists

Business leaders and entrepreneurs in Japan who played a significant role in the industrialization and economic growth of the country.