(a)[2]
Identify two factors that were likely to support Japan’s economic growth.
(b)[5]
To what extent do Fig. 1.1 and Fig. 1.2 back Friedman’s view that ‘inflation is always and everywhere a monetary phenomenon’?
(c)[6]
Explain the probable impact of quantitative easing on the Japanese economy.
(d)[7]
Discuss the likely effects on the Japanese economy of the supply-side policy changes and international economic events described in the article.