Production Output Performance Analysis by GDP, GDP per capita and GDP Growth Rate

Running head: ECONOMICS
Economics

ECONOMICS 2
Introduction
This essay presents the production output performance analysis by GDP, GDP per
capita and GDP growth rate. It also presents the labor market analysis by the
unemployment rate. It demonstrates the price level analysis by inflation.
Real GDP
(Sources: Trading economics, 2018).
The real GDP growth rate
(Sources: Trading economics, 2018).
Real GDP per capita analysis

ECONOMICS 3
(Sources: Trading economics, 2018).
GDP demonstrates the value of all final products and services legally manufactured in
the economy in a specified time period. The real economic growth rate is demonstrated
as a percentage that indicates the rate of transformation in GDP of the country from one
year to next. In addition, real GDP per capita is an extent of whole economic
productivity of nation separated by quantity of individuals and can be altered with
inflation. It is practiced for comparing the wealth amid nation and eventually (Rodan,
2016).
As per the analysis, it could be stated that Real GDP is increased by 192.41 in 2010.
Moreover, real GDP is declined in the year of 2017. In addition, GDP per capita is
declined in the year of 2010 as compared to previous years. Thus, it can be stated that
the economic growth of Singapore is declining (Trading economics, 2018).
Singapore government has implemented different measures to attain the production
output performance, which is discussed as given below:
Government cuts down in taxes for increasing the disposable income and motivate
spending. But, lower taxes will gain the budget deficit and will lead to increase
borrowings. The expansionary fiscal policy is significant in a recession such as; in the
case of declining of consumer spending (Chiu, 2018).
The government may cut the interest rate to increase the domestic demand. This would
lead to achieving the production output performance.

ECONOMICS 4
Government plays important role in offering the political and economic stability that
makes competent in usual economic practices to take place. In addition, political stress
and uncertainty may discourage the economic expansion (Su, Ang, & Li, 2017).
The government can invest in infrastructure to gain the productive capacity and declines
obstruction. It can use deregulation and privatization for gaining the productivity and
efficiency (Friedman, 2017).
(Sources: Trading economics, 2018).
Unemployment is illustrated as a condition in which an individual of working period is
not proficient for performing task but would like to do full-time job.
Demand Deficient Unemployment type of unemployment may create in a recession and
stages of very low expansion. When there is inadequate aggregate demand then the
company can decline output. When the company will decline the output then they will
employ fewer employees. Companies will either decline in recruitment or discharge the
employees. In the case of a deeper recession, there would be chances of more demand
deficient unemployment. It could be a key cause of unemployment that is known as
cyclical unemployment (Yeung, 2017).
Structural Unemployment kind of unemployment created because of inefficiencies in the
labor market. This may create because of mismatch of geographical location as well as
skills. For instance, structural unemployment can be created because of occupational
immobility and technological alteration (Yien, Abdullah, & Azam, 2017).
Under the Occupational immobility, There might be the availability of proficient jobs;
however different employees may not have the relevant proficiency. In some cases, a