Global crisis Both advanced economies and emerging market and developing economies are in recession. Major economies have also been significantly downgraded. (real GDP growth, year-on-year percent change) 4 -2 -4 -6 -8 Great Lockdown 2020 Global Financial Crisis 2009 Advanced economies Emerging market and developing economies (real GDP growth, year-on-year percent change) 10 6. 4 -2 4 -6 8 -10 Great Lockdown 2020 Global Financial Crisis 2009 United States Euro area Japan China India Source: IMF, World Economic Outlook. Note: For India, data and forecasts are presented on a fiscal year basis, with FY2020/2021 starting in April 2020. India's growth is 0.5 percent in 2020 based on the calendar year.
Global crisis Both advanced economies and emerging market and developing economies are in recession. Major economies have also been significantly downgraded. (real GDP growth, year-on-year percent change) 4 -2 -4 -6 -8 Great Lockdown 2020 Global Financial Crisis 2009 Advanced economies Emerging market and developing economies (real GDP growth, year-on-year percent change) 10 6. 4 -2 4 -6 8 -10 Great Lockdown 2020 Global Financial Crisis 2009 United States Euro area Japan China India Source: IMF, World Economic Outlook. Note: For India, data and forecasts are presented on a fiscal year basis, with FY2020/2021 starting in April 2020. India's growth is 0.5 percent in 2020 based on the calendar year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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