Market Models
The goal we reach by producing at the lost cost is ____ _____.
What is technical efficiency?
The focus of a comparative economic systems course is _____ of countries.
Culture refers to the _______ rules of a society that are learned through socialization
What is unwritten?
In Europe, we would say “the lord of an estate.” In Japan, we would state “the _____ of an ____.”
What is Daimyo of the Han
The iron triangle of Japan is
When using stabilization theory, the country regulates and influences spending to keep _____ and _____ relatively constant.
What are unemployment and inflation?
The US decision making system is more ( centralized , decentralized )than France and Japan.
What is decentralized
A country where personal relationships are significantly important was called _______ by Hall.
The religion of Japan is ________. What are 2 of its important characteristics?
What is Shinto. The characteristics are devotion to Kami/gods and honoring them through rituals, nature,
family and traditions, purity and sincerity. Confucian religion adds also nationalism
When local industries are promoted through tariffs and subsidies, this is called a strategy of _______ _______
What is active industrial policy (other examples are loans or generous government contracts)
Green tea has been recently reported to improve health, consumer sovereignty says that ____- (track the story of what will happen and tell a complete story). This is called the ' ' to produce question.
The increased demand will create excess profit for tea producers increasing quantity. What is 'what to produce'
Rodrik believed that several policies are necessary – what were his pillars of an effective government
What are property rights, regulatory institutions, macroeconomic stabilization institutions, social insurance and conflict resolution
In addition to context, another characteristic Hall considered was ______.
What is proximity and Mono or poly chronic time
The US arrival in Edo (the ancient capital now known as Tokyo) began the process of the _____ transformation.
What is Meiji (the industrialization)
Because of a soft budget constraint, firms get ( more, less ) funding from banks and government
What is more? (Often banks in the same Kieretsu)
Policies such as unemployment insurance are designed to alter (what, how, for whom) we produce.
What is 'for whom'
Socialism, Communism and Capitalism are terms used to describe chapter 2’s institution of ______.
The US is known to take high risk and focus on immediate returns. These mean we have low ____ and low ______.
What is uncertainty avoidance and long term orientation
When you let down your guard among close family and close friends to say what you really mean, you are engaging in ____.
Relational contracts will ( increase, decrease ) costs and thus ( increase, decrease ) competitiveness with foreign firms.
What is increase costs and decrease competitiveness
Suppose that the US takes activities to increase the sales of US milled coal abroad. This is a strategy of _____ _______.
What is Export Promotion
Planned vs Market are terms used to describe chapter 2’s institution of _______.
What is the centralization of decision making
When we consider how assertive and goal focus individuals are, we are considering the Hofstede dimension of _____. How does Japan fare in this regard?
What is masculinity? Japan is highly masculine.
A person who leaves Japan for a western education and then seeks work out that is based on more western labor norms would be a called a ( hikkiomori, shinjinrui )
What is shinjinrui
Explain how long term labor contracts can slow down an economy
The workers may lack incentive to be more productive. Labor costs may increase. Too many workers in some industries
True or false. Active industrial policy always increases the allocative and technical efficiency.
What is false
Of Comparative Economic Systems and Comparative Economics, the one focused on data is _______.
What is comparative economics
Name on thing that was true about ancient Japan that still shows up in the world place today.
What is mutual obligation, clan based thinking, nationalism
The first step in finding a joint venture partner is to _____
What is understand what you want
The policies of Abenomics included
What is increased money supply (allowing inflation to erode debt), government spending and risutora of labor markets (layoffs, incentive based pay)