Here are given historical data of some crisis-stricken Eurozone countries before and at the 2008 global financial crisis. What is the relationship among cumulative current account balance, cumulative budget balance and % debt-GDP ratio across countries? Do you agree that all countries should be categorized as a single group? 1999-2007 (% of GDP) Cumulative Current Cumulative Budget % Debt-GDP Ratio Account Balance Deficit 2008 Greece -84 -47 109 Italy -8 47 - 26 102 Belgium Portugal Ireland -5 92 72 43 -96 -36 -21 14

Here are given historical data of some crisis-stricken Eurozone countries before and at the 2008 global financial crisis. What is the relationship among cumulative current account balance, cumulative budget balance and % debt-GDP ratio across countries? Do you agree that all countries should be categorized as a single group? 1999-2007 (% of GDP) Cumulative Current Cumulative Budget % Debt-GDP Ratio Account Balance Deficit 2008 Greece -84 -47 109 Italy -8 47 - 26 102 Belgium Portugal Ireland -5 92 72 43 -96 -36 -21 14

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

I would be appriciated If you answer this question.

Here are given historical data of some crisis-stricken Eurozone countries before and at the 2008
global financial crisis. What is the relationship among cumulative current account balance,
cumulative budget balance and % debt-GDP ratio across countries? Do you agree that all
countries should be categorized as a single group?
1999-2007 (% of GDP)
Cumulative
Current
Cumulative Budget
%
Debt-GDP
Ratio
Account Balance
Deficit
2008
Greece
-84
-47
109
Italy
-8
- 26
102
Belgium
47
-5
92
Portugal
-96
-36
72
Ireland
-21
14
43

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