Question

What is the awarding of contract to firms, individuals, or interests that are insiders to the conglomerate?

Japan implemented the policy of import substitution during its high growth "economic miracle" period of 1953-1971.

True

False

The East Asian economies began their era of rapid growth with relatively even distributions of income, and most of them have ended with a more nearly equal distribution than when they started

True

False

Answer 1

Japan implemented the policy of import substitution during its high growth "economic miracle" period of 1953-1971.

ans: True. After the war Japan had high trade deficits and a rapidly growing economy and to reduce trade deficits policy of Import substitution was implemented which was removed in a staggered manner from the 1980s

The East Asian economies began their era of rapid growth with relatively even distributions of income, and most of them have ended with a more nearly equal distribution than when they started

ans; False. Although all the east asian economies started with relatively even distributions of income, the overshadowing and expansion efforts by china and it emerging as the cheapest manufacturing hub sidelined other East-Asian economies except Japan.