One of the key differences between the United States and the European euro area countries in the aftermath of the Great Recession is that:
A) U.S. inflation and unemployment are both about 4 percent, and in Europe, they are about 8 percent.
B) GDP growth in the United States is negative, but European growth rates are higher than normal.
C) inflation in the United States is negative, while Europe has extremely high inflation rates.
D) the U.S. unemployment rate has largely returned to prerecession levels, whereas European unemployment is still above prerecession levels.
E) interest rates in the United States have risen sharply, while those in the euro area are negative.

Question

Quizplus · Accepted Answer

The United States and European euro area countries both experienced high levels of unemployment during the Great Recession, but the U.S. unemployment rate has since returned to prerecession levels (around 4 percent), while Europe's unemployment rate remains above prerecession levels (around 8 percent).

One of the Key Differences Between the United States and the European