Between 2012 and 2022, the nominal GDP of Wonderland grew, on average, by 7% per year while her GDP deflator increased by 6% per year. She recorded an average labour growth rate of 3% per annum. During this period, the Gini-coefficient changed from 0.445 to 0.412. Regarding the above period, what can you say about the changes in the overall economic performance of Wonderland, including her output level, labour productivity and income distribution? Briefly explain your answers

Between 2012 and 2022, the nominal GDP of Wonderland grew, on average, by 7% per year while her GDP deflator increased by 6% per year. She recorded an average labour growth rate of 3% per annum. During this period, the Gini-coefficient changed from 0.445 to 0.412. Regarding the above period, what can you say about the changes in the overall economic performance of Wonderland, including her output level, labour productivity and income distribution? Briefly explain your answers

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions

Section: Chapter Questions

Problem 6WNG

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