Countries like Japan are called developed nations.

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Detailed Solution

The above statement is true.
Countries like Japan are called developed nations. Developed countries are countries characterised by having a high per-capita income. With high per-capita income, developed countries heavily invest in their human resources to form human capital. They invest in the health and education sectors as health and education are the two major components of development that increase the productivity and efficiency of the workforce in different economic sectors.

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