Packet J: Bonus 1
This term describes a situation where high levels of private debt cause individuals and businesses to collectively focus on saving over spending, negatively affecting economic growth. For 10 points each:
[10h] Give this term for a type of recession attributed to Richard Koo, which described a 22-percent GDP decline in Japan caused by limited corporate investment.
ANSWER: balance sheet recession
[10m] This American economist’s concept of debt deflation inspired the framework for the balance sheet recession. This economist’s equation is defined as nominal interest rate, minus inflation, equals real interest rate.
ANSWER: Irving Fisher
[10e] Koo argued that in the context of Japan’s balance sheet recession, firms adopted debt maximization after trying to maximize this quantity. This quantity equals total revenue minus total cost.
ANSWER: profit
<Illinois B, Social Science> | Packet J - Southampton A, Indiana A, Illinois B, Edinburgh A
| Heard | PPB | E % | M % | H % |
|---|---|---|---|---|
| 81 | 14.07 | 96% | 42% | 3% |
Conversion
Summary
| Tournament | Edition | Match | Heard | PPB | E % | M % | H % |
|---|---|---|---|---|---|---|---|
| California (North) | Main Site | ✓ | 3 | 16.67 | 100% | 67% | 0% |
| California (South) | Main Site | ✓ | 4 | 15.00 | 100% | 50% | 0% |
| Canada | Main Site | ✓ | 12 | 13.33 | 92% | 33% | 8% |
| Florida | Main Site | ✓ | 3 | 6.67 | 67% | 0% | 0% |
| Great Lakes | Main Site | ✓ | 5 | 14.00 | 100% | 40% | 0% |
| Lower Mid-Atlantic | Main Site | ✓ | 9 | 15.56 | 100% | 44% | 11% |
| Midwest | Main Site | ✓ | 8 | 16.25 | 100% | 63% | 0% |
| Northeast | Main Site | ✓ | 5 | 16.00 | 100% | 60% | 0% |
| Overflow | Main Site | ✓ | 3 | 10.00 | 100% | 0% | 0% |
| South Central | Main Site | ✓ | 2 | 20.00 | 100% | 100% | 0% |
| Southeast | Main Site | ✓ | 8 | 13.75 | 100% | 38% | 0% |
| UK | Main Site | ✓ | 6 | 13.33 | 83% | 50% | 0% |
| Upper Mid-Atlantic | Main Site | ✓ | 9 | 13.33 | 100% | 33% | 0% |
| Upstate NY | Main Site | ✓ | 4 | 12.50 | 100% | 25% | 0% |