As described in this chapter, in recent years, both the United States and Greece have experienced increases in government de and significant economic downturns. In what ways were the two situations similar? In what ways were they different? Why do the two nations have different policy options at their disposal? a. Consider the various characteristics of an economic downturn listed below. Place each characteristic in the appropriate category as being either similar" or "different" across these two countries. Similar Different Change (increase or decrease) in the country's credit rating Ability to conduct an independent monetary policy to a o facilitate economic recovery Large increase in national debe Sector (private or public) responsible for creating the finanical crisis
