According to the text, Japan lost much of its capital stock during World War II. It subsequently found that its

a. production possibilities curve had shifted to the left because it was unable to regain,even until today, its prewar output levels, having lost so much of its capital resources(Hiroshima and Nagasaki still haven't recovered from the 1945 atomic bomb attacks)
b. production possibilities curve, having shifted to the left, quickly recovered with the use of the most up-to-date technology
c. economy's productivity suffered irreversibly because the enormous loss of life created a loss of skilled, scientific, and technological knowledge
d. research efforts were hampered because victor countries refused to share scientific knowledge with it in retaliation for the war
e. production possibilities curve remained unchanged for two decades after the warbecause international trade was reduced

B

Economics

You might also like to view...

The price that a person must pay in order acquire purchasing power now rather than in the future is called

a. the interest rate. b. the foreign exchange rate. c. the inflationary premium. d. the risk premium.

Economics

The branch of economics that studies the decisions made by individuals and firms is called macroeconomics

Indicate whether the statement is true or false

Economics