Discuss the Key Macroeconomic Objectives - Economics Assignment Help

Assignment Task

QUESTION 1 -

1.1 Comprehensively discuss the key macroeconomic objectives which can be used to judge the performance of the economy under the Allende and the Pinochet governments, respectively. Comment on the performance of the economy of Chile under these two leaders.

1.2 Arturo's task, as President Alywin's advisor, is to devise a strategy to reduce income inequality rapidly without sacrificing the macroeconomic gains of the military regime. As an economic advisor to Arturo suggest to him how this could be done efficiently and effectively. 

QUESTION 2 -

2.1 Chile is abundantly endowed with natural resources. Are natural resources a necessary or sufficient condition for economic growth? Discuss. 

2.2 You are the Economic Advisor to the Chilean government under the Ministry of Industry and Economic Development; using information in the article submit suggestions about how the balance of trade and the current account respectively, can be turned into surplus. Make FIVE (5) suggestions in this regard and explain how they might serve to improve the balance of payments (BOP) position of Chile. (10) 

QUESTION 3 - Allende's economic advisors considered nationalization as their solution to revolutionary reforms however, Pinochet considered privatization. 

3.1 In this context, discuss the main economic arguments in favour of privatization over nationalisation of companies under the two different leaders in Chile. Justify which policy option one would recommend to a developing country in Africa. 

3.2 Critically evaluate the type of economic system under Allende and Pinochet and discuss the advantages and disadvantages of each economic system. 

QUESTION 4 - The Pinochet government eliminated the bargaining power of workers by suspending collective bargaining and prohibiting union activity. Wage readjustments were decreed by the government. 

4.1 With reference to the above statement, discuss who benefits and who loses in the case of minimum price (price floor) and why such schemes can be difficult to maintain in the long run (Use graphs and examples to motivate your answers) 

4.2 Compare and contrast the economic policies under Allende and under Pinochet in Chile and critically evaluate whether government intervention in Chile has either helped or hindered economic growth. 

4.3 Evaluate ANY TWO (2) economic policies that the Chilean government used to reduce the high rate of inflation in their country.

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