ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This has caused the countries in Europe to have a ____ and a high standard of living
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industrialized economies
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high GDP per capita
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Western European
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None of the above
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Explanation:
Detailed explanation-1: -In 2021, Luxembourg recorded the highest level of GDP per capita in the EU followed by Ireland, Denmark and the Netherlands. Bulgaria had the lowest level of GDP per capita in the EU in 2021, followed by Greece, Slovakia and Croatia.
Detailed explanation-2: -Countries that are richer (per capita) tend to have more physical capital per worker, save and invest at a higher rate, have a higher level of human capital, and are more productive.
Detailed explanation-3: -European Union gdp per capita for 2021 was $38, 411, a 11.89% increase from 2020. European Union gdp per capita for 2020 was $34, 330, a 2.14% decline from 2019. European Union gdp per capita for 2019 was $35, 079, a 1.88% decline from 2018.
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