Aggregate Supply
Changes in AS/LARS in Saudi Arabia Saudi Arabia has seen has a decline in its labor productivity growth and unemployment rate since 2019. As of January 2021, its unemployment rate is %7.4 and as of December 2020, its labor productivity growth was %-3.586. The GDP per hour worked is unavailable for public viewing, this could reflect their political standings and what they want other countries to know about them Labour Productivity Unemployment Rate Saudi's Exports Saudi Arabia has a vital role in meeting world energy needs because it has over 25 percent of the free world's known oil reserves and the ability to increase or decrease oil production. Consequently though, with their immense amount of oil production, their greenhouse gas emissions continue to rise which could cause environmental problems in the long run. However, since 2014 oil prices have fallen steadily and Saudi can no longer rely on their oil revenue and public spending to grow the...