Answer to Question #93713 in Macroeconomics for sindile

Question

The core elements of the Growth Employment and Redistribution (GEAR) strategy of the South
African government in 1996, under the leadership of the then finance minister Trevor Manuel were
amongst other things:
 budget reform to strengthen the redistributive thrust of expenditure
 monetary policy to prevent a resurgence of inflation
 a reduction in tariffs to contain input prices and facilitate industrial restructuring,
compensating partially for the exchange rate depreciation

1.2 Identify and define the macroeconomic variables that can be used to measure whether
the strategy was successful or not.

Answer 1

macroeconomic variables that can be used to measure whether

the strategy was successful or not:

1) level of employment, minimum living wage

2) inflation rate, general price level

3) GDP, gross margin of the economy.

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