Japan's Protection of Its Semiconductor (RAM) Producers Is Today Seen

question 39

Multiple Choice

Japan's protection of its semiconductor (RAM) producers is today seen as an object lesson in

• A) how strategic planning may backfire and cause a large waste of resources.
• B) how externalities may be successfully exploited by protectionist policies.
• C) how excess returns may be successfully exploited by protectionist policies.
• D) how government intervention may create a meaningful comparative advantage.
• E) how monopolies can outlast government intervention.

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Definitions:

Bureaucratic Organizations

Organizations characterized by a hierarchical structure, formal rules, and clear division of labor, often leading to efficient but potentially inflexible operations.

Basic Operating Rules

The foundational guidelines or procedures established for the operation of an organization, system, or machine.

Limited Input

A situation where decisions are made with incomplete, insufficient, or restricted information or participation from relevant stakeholders.

Variation

The range of differences within a dataset or population, or the act of changing something to make it different from others or from what it is normally.