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One of the major objectives of any macroeconomy is economic growth as measured by a country’sGDP. In fact, GDP is one of the most important indicators of the performance of an economy and is the central concept in the national accounts. Investigate South Africa’s real economic growth rate in 2018 and answer the following questions Q.5.1 Explain briefly what the national accounts are. (2) Q.5.2 Argue whether the realrate of growth in South Africa is acceptable. (3) Q.5.3 Briefly explain whether you considerreal GDP a better measure of economic growth than nominal GDP. (2) Q.5.4 Research and provide suggestions for how economic growth can be improved in South Africa.
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