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2.1 The measurement of macroeconomic performance

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Question 2

Extract A

Figure 1: Standard Value Added Tax (VAT) rates (%) in selected European nations, 2023

CountryVAT rate (%)
Denmark25.0
Greece24.0
Italy22.0
Netherlands21.0
Germany19.0
Switzerland8.1

Figure 2: Macroeconomic performance indicators for selected European nations, 2023

DenmarkGreeceItaly
Real GDP Growth (%)1.92.00.9
Inflation rate (%)3.34.25.9
Unemployment (thousands)1455301950
Labour force (millions)3.14.824.1
Government Debt-to-GDP (%)30.1161.9137.3

Explain how the data in Extract A (Figure 2) show that Denmark's macroeconomic performance was stronger than that of Greece and Italy in 2023.

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2.1 The measurement of macroeconomic performance Questions

  1. A Level
  2. /Economics
  3. /2.1 The measurement of macroeconomic performance