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AP HUG chapter ten
Terms and questions. Based on James M. Rubinstein 13th ed. Text Book
| Term | Definition |
|---|---|
| HDI | organization created by the united nations that tackles into account economic indicators, social indicators, and demographics |
| Gross national product | measure of the total economic output of a country including money that leaves and enters the country |
| Gross national income | the total income earned by a nation’s residents and businesses including any income earned abroad over a specific period, usually a year |
| Gross domestic product | measure of the total economic output of a country, including money that leaves and enters the country |
| GNI PPP | gross national income with purchasing power parity; allows cross-country comparisons of economic aggregates on the basis of physical levels of output, free of price, and exchange rate distortions |
| Primary job | resource based (farming, mining, timber, etc.) |
| Secondary job | manufacturing (turning resources into products) |
| Tertiary job | service (transportation, sales, education, etc.) |
| Quaternary job | managing and processing information (finance, software development, etc.) |
| Quinary job | creating information and making high level decisions (research, CEOs, government officials, etc.) |
| Productivity | the value of a particular product compared to the amount of labor needed to make it |
| Formal economy | refers to the legal and regulated parts of an economy, where businesses and workers adhere to established rules, laws, and regulations. BENEFITS: taxes, protects workers, worker benefits, can be recorded by a government. MDC |
| Informal economy | refers to economic activities that are not regulated by the government and typically operate outside formal labor laws and protections. Cash payments, no taxes, no worker protections, not recorded by a government. LDC |
| Consumer goods | products that are purchased by individuals for personal use rather than manufacturing or resale |
| IHDI | inequality adjusted human development index; modifies the HDI to account for inequality within a country |
| Wallerstein's world-system theory | a socio-economic framework that categorizes countries into core, semi-periphery and periphery based on their economic activities and cobalt power dynamics |
| GII | gender inequality index; measures the gender gap in the level of achievement in three dimensions; reproductive health services: measures maternal mortality and adolescent fertility rates, empowerment, and labor market |
| Gender gap | differences in privileges afforded to males and females in society |
| GDI | gender development index; compares level of women's development to that of both sexes |
| GEM | Gender empowerment; measures the ability of women to participate in the process of improving their own status for themselves |
| Dependency theory | a socio economic theory that suggests the development of some countries is contingent upon the exploitation and underdevelopment of others |
| Commodity dependence | occurs when a country derives >60% of its export revenue from raw materials/agricultural products (peripheral countries) |
| Self sufficiency | The self sufficiency modal spreads investment as equally as possible across all sectors of its economy and in all regions |
| World Trade Organization | an organization that works to reduce trade barriers by reducing limitations on trade (tariffs.quotas) and reducing restrictions on international movement of money. WTO countries account for 97% of the world trade. Enforces trade policies and agreements |
| Foreign direct investment | FDI is an investment made by a foreign company in the economy of another country (in 2002, 172 billion dollars in FDI. In 2016, 646 billion dollars in FDI) |
| International monetary fund | the IMF is a un agency that provides money to countries with balance of payment problems, not project specific |
| Non-governmental organizations | NGIs are international nonprofit agencies |
| Microfancance (microloans) | small loans and financial services to individuals and small businesses who lack access to conventional bank loans |
| Stimulus strategy | system for reviving an economy. during an economic downturn, the government should spend more money than they collect in taxes |
| Austerity strategy | system for reviving an economy. the government should sharply reduce taxes and government programs so people will revive the economy by spending tax savings |
Created by:
chambsar000
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