ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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investments in capital goods
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updating factories
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high GDP per capita
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None of the above
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Detailed explanation-1: -Germany is the fourth largest economy in the world after the United States, China and Japan and the largest economy in Europe. It is the third largest export nation globally: With 70% the service sector contributes the largest part to the country’s GDP.
Detailed explanation-2: -Capital investment as percent of GDP The average value for Germany during that period was 23.52 percent with a minimum of 18.56 percent in 2009 and a maximum of 32.7 percent in 1970. The latest value from 2021 is 23.29 percent. For comparison, the world average in 2021 based on 153 countries is 24.18 percent.
Detailed explanation-3: -Its quality of life is generally considered high, and the economy is quite diversified. The sectors that contribute most to the U.K.’s GDP are services, manufacturing, construction, and tourism.
Detailed explanation-4: -In the business world, it is well known that Germany has a strong economy and worldwide trading reputation, but why is this? The German economy’s competitiveness and worldwide networking can be attributed to its elevated level of innovation and strong export orientation.