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 war because international trade was reduced
Correct Answer:
Verified
Q100: Poor economies may have difficulty growing because
A)
Q101: An idea concerning production that eventually takes
Q102: The French production possibilities curve shifts to
Q103: The Irish production possibilities curve shifts to
Q104: War can be expected to do all
Q106: Economists regard people who work below their
Q107: The maximum possible production of goods and
Q108: The idea that labor productivity depends on
Q109: In The Wealth of Nations, Adam Smith
Q110: In a one-person Robinson Crusoe economy, labor
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents