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2.1 The measurement of macroeconomic performance

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Question 7

Extract B

Table 1: Key Indicators of UK Living Standards (2012 to 2022)

YearReal Median Household Disposable Income (Index, 2012 = 100)Gini Coefficient (%)Real GDP per Capita (£, 2012 prices)
2012100.034.227,500
2015104.533.828,800
2018106.234.529,400
2022105.135.729,100

Table 2: Relative Poverty Rates in the UK (percentage of group below 60% of median income, before housing costs)

Group20122022
Children17.5%20.1%
Working-age adults14.1%15.2%
Pensioners13.5%12.8%

Using the data in Extract B, to what extent, if at all, do the data suggest that living standards in the UK improved between 2012 and 2022?

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2.1 The measurement of macroeconomic performance Questions

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  3. /2.1 The measurement of macroeconomic performance