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What are the macro economic problems faced by developed countries?
JaveriahArif
First of all you have to be aware of the 5 macro economic goals in an economy which are as following:
1. Low unemployment rate
2. Stable Prive level (low or no inflation)
3. Sustainable economic growth
4. Even distribution of income
5. Balance of payments (external balance :exports/imports)
Having this in mind, use a developed country such as Sweden (or another that you know better) as an example to think through the 5 goals.
-Sweden has an unemployment rate of about 7.7%, which is low compared to other countries, but considering that in 2008 the rate was 5.8%, Sweden has potential to supply more jobs to their potential workforce.
-America has an above average UNEVEN distribution of income, meaning that even though the country is considered developed, there is a large gap between the rich and the poor.
Google "the lorenz curve" to learn more about this
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∙ 13y ago
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