In 2017, the average real GDP growth rate of the European Union was 2.4 percent. Apart from

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In 2017, the average real GDP growth rate of the European Union was 2.4 percent. Apart from a few outliers, the Western European member states achieved lower growth rates compared to members states in Eastern Europe. Go to www.ec.europa.eu/eurostat.com and look at real GDP growth rates for the EU. What do you see in the data? Can you tell by reading newspapers or watching the news why there are differences in growth rates of member states? Do you think this means that members states in Eastern Europe are catching up to those in Western Europe in terms of living standards?

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Principles Of Macroeconomics

ISBN: 9781292303826

13th Global Edition

Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster

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