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Discuss how far the government can use these statistics to conclude if…

- - - - increase in real GDP at 2010 prices compared to 1.2 increase in population
        
        real GDP increased on the whole
        
        greater material SOL
    - - unemployment rate is relatively low (at 1.9%)
        
        this means that the larger economic pie is shared across most people in sg and not concentrated in the hands of the minority (I assume this means that most people have a job and thus they have a portion of the economic pie)
    - - inflation rate is -0.5%, indicating that GPL has fallen
        
        good deflation: people are more able to buy their g+s with this lower price
        
        this also shows that sg has maintained its px stability (which is one of the macroeconomic aims), so material SOL has been improved in a sustained manner.
  - - - there could have been higher savings by sgporeans
        
        this means that people are generally improving their future SOL but not the current SOL
    - - it does not take into account things like government grants that are for the elderly, who do not contribute to GDP directly
        
        give examples of such grants: Silver Support Scheme, PIoneer Generation scheme and SG50 Baby bonus scheme
    - - Other types of data that we have to consider include:
        
        externalities
        
        working hours
        
        equity