Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From 2010 to 2020, Benin recorded an average economic growth rate of 4% and average labour growth rate of 7%. During this period, the GDP

From 2010 to 2020, Benin recorded an average economic growth rate of 4% and average labour growth rate of 7%. During this period, the GDP deflator changed from 120 to 145, and the Gini-coefficient changed from 0.671 to 0.608.

Regarding the above period, what can you say about the changes in the overall economic performance, including labour productivity, general price level and income distribution from the above data? Briefly explain your answer.

Hint: no calculation is required. Just interpret and compare the given figures.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: John Sloman, Jon Guest, Dean Garratt

10th edition

1292187859, 9781292187907 , 978-1292187853

More Books

Students also viewed these Economics questions

Question

What is cultural tourism and why is it growing?

Answered: 1 week ago