WorkforAll had the following illustration with U.S. federal government spending compared to other countries.
- GDP stands for Gross Domestic Product and is a measure of the economy as it measures the total market value of all final goods and services produced in a country in a given year.
- E.U. stands for European Union which is an economic and political partnership between 27 European countries.
- OECD stands for Organisation for Economic Co-operation and Development and the OECD percentage is the average of the 34 member OECD countries.
- Commas are used for the decimal mark, which is a common convention in Europe and South America.Â For example, the 35,6 means 35.6%.
To read the entire article, click on EU : Causes of Growth differentials in Europe.