From 2009 to 2019, Country X recorded an annual economic growth rate of 5% and an annual labour growth rate of 3%. During this period, the Gini-coefficient changed from 0.252 to 0.388 and the GDP deflator changed from 105 to 110. Regarding the above period, what can you say about the changes in the overall economic performance, including labour productivity, income distribution and price level from the above data? Briefly explain your answer.

From 2009 to 2019, Country X recorded an annual economic growth rate of 5% and an annual labour growth rate of 3%. During this period, the Gini-coefficient changed from 0.252 to 0.388 and the GDP deflator changed from 105 to 110. Regarding the above period, what can you say about the changes in the overall economic performance, including labour productivity, income distribution and price level from the above data? Briefly explain your answer.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 3P

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