Econ #7 and #8

US Macro Strengths
- Good labor productivity growth
- Fairly low inflation except for food and energy prices
US Macro Weaknesses
- Continued slow GDP recovery from Great Recession
- High unemployment, discuraged workers
- Low national savings rate
- Large budget deficits
Japan Macro Strengths
- High savings rate
- High trade surplus
- No big international debt
Japan Macro Weaknesses
- Two decades of stagnation
- Growth dependent on exports
- Large national debt
- Weak/ineffective politicians
US Standard of Living strengths
- High per capita income
- Inexpensive products
- Inexpensive housing
- Clean environment
US Standard of Living weaknesses
- High income inequality
- Limited safety net
- High violent crime
Japan Standard of Living strengths
- High per capita income
- Income equality
- High life expectancy
Japan Standard of Living weaknesses
- Limited safety net
- Long-term health threats
- High prices of goods
- Very crowded
Size of Japan economy
- Third largest in world
- 7% of world GDP
- 2% of world population

Author

kyle.coughlin

175056

Card Set

Econ #7 and #8

Description

Econ #7 and #8

Updated

2012-10-02T18:31:45Z

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