In the year 2012, Shinzo Abe became prime minister of Japan, promising bold policies to improve Japan's economy. What was the focus of his policies and how did they affect Japan's trade position?
What will be an ideal response?
What has been called "Abenomics" involved monetary policies designed to reduce the value of the Japanese Yen relative to other currencies. This resulted in increased exports and reduced imports, strengthening the Japanese economy.
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If the purchase of used goods was to be incorporated into measuring GDP using the expenditure approach, then
A) consumption spending would need to be adjusted for depreciation. B) it will be very difficult to assign a fair market value to a used good. C) we will have to account for the natural depreciation that a used good experiences. D) we also will have to account for spending on financial assets. E) we will be counting the value of the used goods both at the time of their production and at the time of their re-sale.
One necessary step in demonstrating monopolistic behavior is to define the market. In this process, defendants would:
a. claim that the market was not in equilibrium. b. want the market defined as narrowly as possible. c. deny that a market existed. d. assert that the market was not stable. e. want the market defined as broadly as possible.