Circle the area on this map
D. Tiny Luxembourg has the world’s highest gross domestic product (GDP) per person, according to the CIA World Factbook. Its GDP per person is $132,800 a year compared with $33,400 in Bulgaria. Germany has the largest economy in the EU with a Real GDP of about $5.3 trillion. That is more than 24 times larger than Bulgaria’s $215.3 billion GDP.
A. A member of the Eurozone, Greece sank deeply debt during the Great Recession of 2008 and was forced to drastically raise its taxes and cut its spending. This led to a severe decline in its gross domestic product, and its debt-to-GDP ratio rose to the second-largest in the world. Japan has the largest debt ratio at 216.2%. The United States' national debt is 114.8% of its GDP.
C. Norway had a budget surplus of $63.9 billion last year, followed by Kuwait with a $40 billion surplus, the United Arab Emirates at $30.4 billion, and Ireland at $25 billion. Oil and natural gas have fueled the economies of Norway, Kuwait, and the United Arab Emirates. A highly developed knowledge economy and large investments by multinational companies fired up Ireland’s growth.
A. According to the International Monetary Fund, China has a Real GDP of $19.6 trillion, followed by the United States with a GDP of $14.7 trillion. The 27 countries of the European Union have a combined GDP of $14.1 trillion, ranking third. Russia – the world’s largest country by area – has a GDP of $3.4 trillion.