According to the "World View" below, World View: Comparative Macro Performance The performance of the U.S. economy in the 2000s was better than that of most developed economies. Japan had the greatest success in restraining inflation (minus 3.5 percent) but suffered from sluggish growth (7.4 percent in an entire decade). The United States grew faster and also experienced less unemployment than most European countries. Performance, 2000-2010 Real growth (10-year increase Inflation (10-year change) Unemployment (annual average) Source: International Monetary Fund, World Economic Outlook, 2011, www.imf.org. U.S. Japan Germany United Kingdom 18.0 26.6 6.5 O Canada O The United States (b) Which country had the fastest growth? O Germany O France 74 -3.5 5.2 8.8 174 9.3 14.9 30 0 6.2 France 12 4 12.0 9.8 Canada (a) Which country had the greatest macro misery in the 2000s? (Recall the "misery index" found in the Supply-Side Policy: Short-Run Options chapter is measured as a simple sum of the inflation and unemployment.) The United States O The United Kingdom O Canada O Germany 20.4 22.1 7.8

According to the "World View" below, World View: Comparative Macro Performance The performance of the U.S. economy in the 2000s was better than that of most developed economies. Japan had the greatest success in restraining inflation (minus 3.5 percent) but suffered from sluggish growth (7.4 percent in an entire decade). The United States grew faster and also experienced less unemployment than most European countries. Performance, 2000-2010 Real growth (10-year increase Inflation (10-year change) Unemployment (annual average) Source: International Monetary Fund, World Economic Outlook, 2011, www.imf.org. U.S. Japan Germany United Kingdom 18.0 26.6 6.5 O Canada O The United States (b) Which country had the fastest growth? O Germany O France 74 -3.5 5.2 8.8 174 9.3 14.9 30 0 6.2 France 12 4 12.0 9.8 Canada (a) Which country had the greatest macro misery in the 2000s? (Recall the "misery index" found in the Supply-Side Policy: Short-Run Options chapter is measured as a simple sum of the inflation and unemployment.) The United States O The United Kingdom O Canada O Germany 20.4 22.1 7.8

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...

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