For this task on the economic way of thinking and economic indicators I have chosen data from the Kingdom of Bahrain DPU has offered an MBA there for the past 20 years Below you will find data on employment, wages, real GDP and inflation I am going to ask you a series of questions that you will answer using these data and some of the essentials of the economic way of thinking Some additional facts that you should know The Bahraini currency is the Bahraini dinar, or BD, and each dinar is worth $2 65 Workers' paychecks are subject to, essentially, no taxes The total population of the island kingdom is roughly 1 7 million Bahrainis dominate the public sector employment and the private sector is primarily comprised of ex pats from India, Pakistan, Bangladesh and Philippines Indicator 2020Q1 2020Q4 2021Q1 Total Employment 743,620 687,700 685,204 Bahraini Employment 156,746 152,678 153757 Non Bahraini Employment 586,874 535,022 531,447 Monthly Wage, Public Sector BD702 BD705 BD714 Monthly Wage, Private Sector BD441 BD447 BD455 Real GDP in billions of BDs BD3 151 BD3 086 BD3 064 The inflation rate in Bahrain between 2020Q1 and 2021Q1 (year over year) was 2 7 obviously prices fell in general Lastly, like the U S , Bahrain was hit by the Covid 19 pandemic during this period Now let's consider the issue of real versus nominal Take a look at the wages of the two sectors Did they rise or fall in nominal terms year over year (2020Q1 to 2021Q1) and if so by how much (by sector) However, what really matters in economics are real values What were the changes in real wages earned by the two sectors Explain how you came to this conclusion In part c you will note that the public wage is much greater than the private but the percent changes in wages in real terms were not identical Speculate on why the wages of the private sector rose more than public in this particular period

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For this task on the economic way of thinking and economic indicators I have chosen data from the Kingdom of Bahrain; DPU has offered an

For this task on the economic way of thinking and economic indicators I have chosen data from the Kingdom of Bahrain; DPU has offered an MBA there for the past 20 years. Below you will find data on employment, wages, real GDP and inflation.I am going to ask you a series of questions that you will answer using these data and some of the essentials of the economic way of thinking. Some additional facts that you should know:

The Bahraini currency is the Bahraini dinar, or BD, and each dinar is worth $2.65. Workers' paychecks are subject to, essentially, no taxes.
The total population of the island kingdom is roughly 1.7 million
Bahrainis dominate the public sector employment and the private sector is primarily comprised of ex-pats from India, Pakistan, Bangladesh and Philippines.

Indicator	2020Q1	2020Q4	2021Q1
Total Employment	743,620	687,700	685,204
Bahraini Employment	156,746	152,678	153757
Non-Bahraini Employment	586,874	535,022	531,447
Monthly Wage, Public Sector	BD702	BD705	BD714
Monthly Wage, Private Sector	BD441	BD447	BD455
Real GDP in billions of BDs	BD3.151	BD3.086	BD3.064

The inflation rate in Bahrain between 2020Q1 and 2021Q1 (year-over-year) was -2.7%; obviously prices fell in general. Lastly, like the U.S., Bahrain was hit by the Covid-19 pandemic during this period.

Now let's consider the issue of real versus nominal. Take a look at the wages of the two sectors. Did they rise or fall in nominal terms year-over-year (2020Q1 to 2021Q1) and if so by how much (by sector)? However, what really matters in economics are real values. What were the changes in real wages earned by the two sectors? Explain how you came to this conclusion.
In part c you will note that the public wage is much greater than the private but the percent changes in wages in real terms were not identical. Speculate on why the wages of the private sector rose more than public in this particular period.