🔴 Class #016 Rising Food Prices

What was Japan's rank in the world economy two decades ago?

• Second

• First

• Third

• Fourth

According to Simon Kuznets, what are the four types of economies in the world?

• Undeveloped, Advanced, Argentina, China

• Developed, Developing, China, Japan

• Developed, Developing, Argentina, Japan

• Undeveloped, Advanced, Argentina, Japan

What is one of the factors contributing to Japan's economic recovery?

• Decrease in workforce participation rate

• Technological advancements

• Increase in birth rate

• High inflation

What is a major reason for Japan's low birth rate?

• Lack of healthcare facilities

• High cost of living

• Government restrictions

• Cultural norms

How did the Asian financial crisis impact Japan's real estate market?

• Resulted in high inflation

• Caused a decline in housing supply

• Led to a surge in housing development

• Increased property prices

What is one of the reasons for Japan's affordable housing market?

• Limited housing development

• Low wages

• Strict zoning laws

• High inflation rates

What is the primary driver of Japan's historically high real estate prices?

• Foreign investments

• Low demand for housing

• Government subsidies

• Expectation of future value increase

What is the best way to increase economic output according to Paul Krugman?

• Encouraging migration

• Raising prices of domestic products

• Improving worker productivity

• Increasing workforce participation

Why has Japan struggled to maintain its technological lead?

• Government regulations

• High inflation rates

• Lack of skilled workers

• Resistance to new processes

What is one of the challenges Japan faces in attracting skilled migrants?

• Low quality of life

• Language barrier

• High cost of living

• Limited job opportunities