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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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 Ecanamic Outlook, 2011, www.imf.org.
(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.)
O The United States
O The United Kingdom
O Canada
O Germany
U.S.
(b) Which country had the fastest growth?
O Germany
O France
O Canada
O The United States
18.0
26.6
6.5
Japan
Germany United France Canada
Kingdom
7.4
-3.5
5.2
17.4
9.3
14.9
30.0
6.2
12.4
12.0
9.8
20.4
22.1
7.8

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