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Write the phrases using the correct operation symbol and then do the operation. Write answers as fractions and decimals, where appropriate. Round decimals to the nearest thousandth. Assume the second number is subtracted from or divided into the first number. Find the quotient of of 4 and .
Japan
An island nation in East Asia, known for its rich culture, technological advancements, and significant economic power.
Equilibrium GDP
The level of GDP (Gross Domestic Product) at which total demand (aggregate demand) and total supply (aggregate supply) in the economy are equal, leading to an economic equilibrium.
Full Employment GDP
The output level of goods and services at which the economy's labor force is fully employed, indicating an optimal level of production without excessive inflation.
Inflationary Gap
A situation where the total demand in an economy exceeds the total supply, leading to an increase in the general price level or inflation.
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