Japan's Economy: Checkpoint 1

Quick checkpoint - five questions on Meiji modernisation, the postwar miracle, company culture, the bubble and deflation.

Question 1 of 5 What began Japan's modernisation in 1868?

The Meiji Restoration The Plaza Accord The Korean War The oil shock

It launched rapid industrialisation.

Question 2 of 5 About how fast did Japan grow from the mid-1950s to early 1970s?

1 percent a year 9 to 10 percent a year 25 percent a year No growth

This was the postwar miracle.

Question 3 of 5 What is a keiretsu?

A type of food A network of firms linked by shareholdings and a main bank A tax A central bank

Keiretsu shaped postwar corporate Japan.

Question 4 of 5 When did the Nikkei peak before its long decline?

December 1989 1945 2010 1968

It took until 2024 to surpass that peak.

Question 5 of 5 Why is deflation harmful?

It makes debts lighter It delays spending and raises real debt burdens It always raises wages It has no effect

Falling prices can trap an economy in weak demand.

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