Macroeconomic 3

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.  Yemen’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 Yemen’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)

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