Question
Consider the following economic statistics for a particular country (it's not the US): 7 Years Ago Today GDP $200 billion $300 billion GDP per capita
Consider the following economic statistics for a particular country (it's not the US):
| 7 Years Ago | Today | |
| GDP | $200 billion | $300 billion |
| GDP per capita | $17,000 | $20,000 |
| inflation rate | 5% | 15% |
| unemployment rate | 15% | 5% |
| Labor force participation rate | 62% | 68% |
| Consumer Price Index | 100 | 125 |
Is the condition of this economy today better than, worse than, or the same as it was 7 years ago? Explain how you know. In your explanation, show the details of any calculations that you perform.
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Experimental Econophysics Properties And Mechanisms Of Laboratory Markets
Authors: Ji Ping Huang
1st Edition
3662442345, 9783662442340
