AP hug unit 7 review notes ver

What does the word “gross” mean in GDP, or GNP?

gross=total

What is GDP?

the total value of all goods and services produced within a country's borders in a year. goods +services =GDP

What is an example of GDP?

the value of a car made at a Ford factory in Michigan counts toward the GDP of the United States

What is GNP?

is the total value of goods and services produced by a country's citizens and corporations, regardless of where they are in the world

Whats an example of GNP?

a Nike factory in Vietnam contributes to the GNP of the United States

What is GNI?

the total income earned by a country's residents and businesses, including money earned abroad

What is an example fo GNI?

•profits sent back to the U.S. from an American company operating in Japan are included in the U.S. GNI.

For consumer spending, what usually indicates a healthy economy?

More Consumerism

Why is being able to buy a house relate to an economy?

If people are able to buy houses, the house market is a HUGE indicator of a successful economy.

What is a pattern with the more developed countries in job sectors and LDC in job sectors?

1. over time, jobs in the primary sector for MDC are dropping while tertiary moves up

2. jobs in the primary are slowly dropping down in LDC and secondary jobs are moving up

Would the per capita income be higher in MDC or LDC?

in MDC bc more ppl work in the tertiary sector which pays more.

Formal economy

-regulated and taxed by the gov.

-included in GDP and GNI

Informal economy

-not sold and regulated by the gov.

selling without formal document papers

-usually drugs, black market good, babysitting, house cleaning, selling sonething at a stand

What inference can you make if a country has a larger formal economy?

They are more developed.

How does the number of textbooks published in a country indicate a high literacy rate or low literacy rate?

The # of textbooks published shows how much access the people have to learning materials, and how they prioritize education.

What is GEM (Gender Empowerment Measure)?

Shows how much women participate in economic and political decision-making

Inequality can exist between countries. South Africa has one of the largest economies and one of the highest GDP per capita but has a lot of income inequality among it citizens as a result from apartheid.

Inequality in countries

What is Apartheid?

Apartheid is a legal system of racial segregation and oppression in South Africa where white minority groups get the economic privilege.

What is the correalation between the Total Fertility Rate and Poverty rates?

The higher the TFR is, the higher percentage of the population living in poverty.

Which economic sector would Argentina’s and Korea’s top exporting industries fall under?

Secondary sector

How can you tell if a country has a high GDP?

Their main economic sector are in the teritiary sector, high life expectancy and literacy rate, technology, and consumerism.

What regions have the highest concentrations of women economic opportunities?

Australia, Canada, USA, and Western Europe

Which region has the highest child morality rate?

West Africa

What form of market did Rostow all assumed countries practiced?

Capitalism, free market, selling things for profit

Why can’t Rostow’s model apply to all other countries?

His model is based on European and American history, and he’s biased towards industrialized, capitalist, and democratic countries.

What is Walrus’s World System Theory biggest criticism?

The theory is too focused on economics bc categorizing countries based on their global economy isn’t right.

What do the Rooster’s model and Walrus’s model have in common for criticism?

The both don’t take geographic influence or culture into account.

How are the developed nations keeping the lowly developed from developing? supported from the dependence theory?

They create an explotation system of developing countries and keep them from becoming a core country.

In the dependency theory, why are continued poverty patterns consistent?

Because they are dependent on core countries for trade, investment, and technological advancements.

What is the underlying cause of this ocntinued dependency of the periphery countries?

Imperialism

How does Rowstow’s model suggest the nation’s economies move?

Always foward in a linear pattern

How does World system theory model suggest the nation’s economies move?

static or can even move backward

What is the Rostow’s model scale of analysis?

national level of analysis

what is world system theory scale of analysis?

international level of analysis

based on the US and European countries so did not fit non-western cultures or non-capitalist countries. which criticism does this belong to?

Rostow’s model

assumed everyone can eventually lead a life of high mass consumption without considering sustainable development or carrying capacity of the earth. which criticism does this beong to?

Rostow’s model

has limited practicality because it suggests countries can change their status in the world economic system but doesn’t explain how

which criticism does this belong to?

World systems theory

suggested all countries have the potential to develop without recognizing that some factors such as physical size, natural resources, and political systems could limit a country’s ability to develop

which criticism does this belong to?

Rostow’s model

fails to recognize the role that international non-governmental organizations (NGOs) such as influential UN agencies or private nonprofit charitable groups such as Doctors Without Borders play in development. which criticism does this belong to?

World system’s theory

suggested development is always linear & headed in the direction of progress; didn’t recognize the role international aid often plays in development. which criticism does this belong to?

Rostow’s model

Gender Development Index

compares the Human Development Index (HDI) scores for men and women to show the disparity in development between genders;

if women in a country have significantly lower literacy rates than men, does that country have a high GDI or low GDI?

low GDI