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(DMS) World Factbook

(DMS) Economy

QuestionAnswer
human capital The skills a person possesses.
Gross Domestic Product The amount of money a country produces in a year, based on production and services.
GDP Gross Domestic Product
GDP Per Capita The average GDP per person.
life expectancy The average number of years a person is expected to live in a respective country.
Population Growth Rate The annual percentage growth rate of a country's population.
literacy rate The percentage of a country's population that can read.
standard of living The level of wealth, comfort, access to material goods and necessities in a region.
suffrage The right to vote.
poverty rate The percent of a country's population that is below the poverty line. The poverty line is determined as the minimum need to survive, which can vary from country to country.
macroeconomy A large scale economic system.
microeconomy Economy focused on the decisions of small units, such as individuals and families.
inflation An increase in prices and fall in the purchasing value of money.
net exports The commercial balance or net exports, is the difference between the monetary value of exports and imports of output in an economy over a certain period, measured in the currency of that economy. It is the relationship between a country's imports/exports.
Created by: jhoward72