Prices and Living Standards
In the first half of this chapter we discuss prices. In Japan real output has increased rapidly, but so have prices; economic growth accompanied by inflation has characterized the Japanese economy. In Section 11.1 we look first at various indicators of price changes in an attempt to discover the causes, and then we discuss ‘stagflation’. In Section 11.2 we discuss changes in the price structure (relative prices of different sectors of the economy) and the causes, and then the significance of inflationary growth.
KeywordsGini Coefficient Relative Prex Economic Growth Rate Traditional Sector Modern Sector
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