ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Japan’s population growth has stopped.
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Japan receives reduced prices on imports.
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Japan has a well-educated skilled labor force.
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Japan has a powerful military that influences other countries.
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Detailed explanation-1: -It occurred chiefly due to the economic interventionism of the Japanese government and partly due to the aid and assistance of the U.S. aid to Asia. After World War II, the U.S. established a significant presence in Japan to slow the expansion of Soviet influence in the Pacific.
Detailed explanation-2: -(i) Peasants were not allowed to carry arms, the only samurai could carry swords now. (ii) Disarmament of the peasants helped in establish peace and prosperity. (iii) The growth of population led to the growth of the commercial economy. (iv) The growth of precious metals restricted.
Detailed explanation-3: -The heritage from the Tokugawa Period, together with the foundations for economic growth developed during the early Meiji Period, enabled Japan to propel the economy on the road to modern economic growth over a period of about twenty years starting from the mid-1880s.
Detailed explanation-4: -In the early 1990s, the nation lost its status as an economic juggernaut-the model to emulate in industrial policy, management techniques, and product engineering-and found itself a beleaguered nation in its worst recession since World War II.