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How did the government and Japanese society react when Japan was forced to accept unequal treaties?

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Joshua Stredder
Joshua StredderLv10
6 Mar 2021

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Related questions

In Japan during the first half of 2000, the Bank of Japan kept interest rates at a near zero level in an attempt to stimulate demand. In addition, the government passed a substantial increase in government expenditure and cut taxes. Slowly, Japanese GDP began to grow with absolutely no sign of an increase in the price level. Illustrate the position of the Japanese economy with aggregate supply and aggregate demand curves. Where on the short-run AS curve was Japan in 2000?

Japanese GDP in 2010 was 480 trillion

yen (U.S. GDP, again, was $14.5 trillion). The exchange rate in 2010 was

87.8 yen per dollar. Contrary to China and India, however, Japan had a higher

prices than the United States: the price level in Japan (converted to dollars)

divided by the price level in the United States was 1.243 in 2010.

(a) What is the ratio of Japanese GDP to the U.S. 

3. How large is the Japanese economy? Japanese GDP in 2010 was 480 trillion yen (US GDP is 14.5 trillion). The exchange rate in 2010 was 87.8 yen per dollar. Contrary to China and India, however, Japan had higher prices than the United States: the price level in Japan (converted to dollars) divided by the price level in the United States was 1.243 in 2010.

a. What is the ratio of Japanese GDP to U.S. GDP if we don't take into account the differences in relative prices and simply use the exchange rate to make the conversion?

b. What is the ratio of GDP in Japan to real GDP in the United States in common prices?

c. Why are the two numbers different?

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