The Deep Recessions Experienced in Many Fast-Growing East Asian Economies

question 21

Multiple Choice

The deep recessions experienced in many fast-growing East Asian economies in 1997-98

• A) were unexpected by virtually all economists who had been studying the "Asian miracle."
• B) produced a significant shortage in overall global capacity.
• C) led to a continuing and deepening condition of economic stagnation over the entire region.
• D) demonstrated that it is extremely unlikely that sustained economic growth can be accomplished in developing countries.
• E) were a direct result of the Asian financial crisis.

---

Definitions:

Gifted Children

Children who exhibit a significantly higher than average ability in one or more domains such as intellectual, creative, artistic, or leadership capacity.

Elementary School

An educational institution for children typically from kindergarten through fifth or sixth grades, focusing on foundational academic, social, and emotional skills.

Typical Behaviour

Actions or reactions that are considered standard or expected in a given context, often based on social norms or statistical averages.

Absolute Level

A fixed point of reference that is used to measure or compare levels of a particular variable without relation to other variables.