Core elements of the Growth Employment and Redistribution (GEAR) strategy of the South African government
|The core elements of the Growth Employment and Redistribution (GEAR) strategy of the South African government in 1996, under the leadership of the finance minister Trevor Manuel were amongst other things: 1. budget reform to strengthen the redistributive thrust of expenditure 2.monetary policy to prevent a resurgence of inflation 3.a reduction in tariffs to contain input prices and facilitate industrial restructuring, compensating partially for the exchange rate depreciation.|
1.1 With reference to the above, identify the macroeconomic objective in these elements.
1.2. Identify and define the macroeconomic variables that can be used to measure whether the strategy was successful or not.
1.3. With each tool in 1.2, provide a detailed explanation on how it can be measured. Basic explanations needed