I have this macroeconomic question that I have to answer it in two pages.
The government of Yemen collapsed recently. Yemen has a troubled history of civil war, religious strife, and Marxist revolution. Yemenâ€™s essential macroeconomic position in 2013 may be described by these values of the standard variables provided below.
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A) Is Yemen a wealthy nation or a poor nation? Explain.
B) What are the key elements in the natural resource endowment and in the social-political-economic C) institutions which explain the macroeconomic position of Yemen and of the performance of Yemenâ€™s macroeconomy?
GDP per capita = $2,500 – – – ranked 187th highest in world (out of total of 228 nations ranked)
(unchanged from 2012 and 2011)
real GDP growth rate = +3.8% – – – ranked 86th highest in world (out of 221 nations)
(up from +0.1% in 2012)
Unemployment Rate = 35% last estimated in 2003 – – – ranked 188th highest in world (out of 203 nations)
Inflation Rate = +11.8% – – – ranked 213th highest in world (out of 223 nations)
(up from +9.9% in 2012)
Government Budget Deficit = -10.3% of GDP – – – ranked 206th highest in the world (out of 216 nations)
Public Debt = 47.1% of GDP – – – ranked 73rd highest in world (out of 161 nations)
(up from 45.4% in 2012)
Exports = $6.69 b. – – – ranked 105th largest in world (out of 223 nations)
(down from $7.6 b. in 2012)
Imports = $10.97 b. – – – ranked 96th largest in world (out of 222 nations)
(down from $12.49 b. in 2012)
worldwide median values in 2013:
GDP per capita = $10,800 (114th position: Azerbaijan)
real GDP growth rate = +3.10% (111th position: Algeria)
Unemployment Rate = 9.5% (103rd position: Morocco)
Inflation Rate = 2.9% (111st position: Peru)
Government Budget Deficit = -2.6% of GDP (109th position: Uruguay)
Public Debt = 45.8% (80th position: Argentina)
Exports = $5.69 b. (111st position: Bosnia and Herzegovina)
Imports = $7.39 b. (112th position: Botswana)