Based on the news clip, do you expect the actual consumption of Greek households to have changed
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Based on the news clip, do you expect the actual consumption of Greek households to have changed only because of the decreased wealth between 2009 and 2014?
The Bank of Greece reported that during the economic crisis between 2009 and 2014, household wealth declined by 40 percent. This was mainly due to a fall in the value of real estate in Greece. During the same time period, household income also decreased by 26 percent due to heavy taxation.
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Based on the information provided in the news clip its very likely that the actual consumption of Gr...View the full answer
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