Question: The primary energy consumption in Germany increased from 2,000 Mtoe in 2012 to 2,300 Mtoe in 2013. The GDP increased from 15,197 billion Euros in

The primary energy consumption in Germany increased from 2,000 Mtoe in 2012 to 2,300 Mtoe in 2013. The GDP increased from 15,197 billion Euros in 2012 to 16,603 billion Euros in 2013 at constant 2,100 prices. What was the GDP elasticity of energy demand in Germany?

b) Discuss in details the number of difficulties that could be experienced when analyzing the energy demand of developing countries.

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a To calculate the GDP elasticity of energy demand in Germany we can use the following formula Elasticity Percentage change in energy consumption Percentage change in GDP First lets calculate the perc... View full answer

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