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Explain why successive decades and generations have experienced lower economic growth in the European Union and...

Explain why successive decades and generations have experienced lower economic growth in the European Union and the US?

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Answer #1

ECONOMIC GROWTH = When the market value of goods and services rises which is produced in the economy over the period of time ..

Reasons for lower economic growth in European union are as follows

  1. because entrepreneurship decreases
  2. lower growth due to structural transformation.
  3. loss of great wealth due to war happened 1939-1941

Reasons for lower economic growth in US are as follows

  1. lack of innovation
  2. due to increase in health care cost in US
  3. presence of unnecessary and uncleared cost.
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