Which of the Following Statements Is Not True of Japan

question 61

Multiple Choice

Which of the following statements is not true of Japan?

• A)During the 1970s and 1980s, Japan's economic success had been without precedent
• B)During the 1970s and 1980s, the country had a huge positive trade balance, the yen was strong and they recognized as the world leaders in manufacturing and consumer goods
• C)Assumptions about the Japanese workforce have turned out to be more myth than reality and some of the former strengths have become weaknesses in the new economy
• D)Japan's consensus decision making system turns out to be very efficient and effective in the new speed-based economy

Determine the shifts in the production possibility curve and their economic implications.

Identify points of efficient, under-efficient, and impossible production on the PPC.

Understand the allocation of resources in a two-product economy.

Analyse economic changes through graphical data representation.