Set of flashcards VWL Kapitel 1 (Page 1 of 1)

Flashcards	12
Language	English
Category	Politics
Level	University
Created / Updated	18.11.2018 / 25.01.2022
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Countries tend to be cassified as more or less develepod bades on:

the literacy rate

the poverty rate

the level of income per capita

the types of goods they produce

Wich ot the following demonstrates international interdependecs?

the oil shocks

the debt crisis

global warming

all of the above

A subsistence ecomomy is?

a very low income economy

an economy in which people make what they consume

an economy in which people receive food for pay

all of the above

Developed economics is the study of the?

alleviation of absolute poverty

transformations of institutions

allocation of resources in developing countries

all of the above

Development economics must have a scope wider than traditional economics because

valus and attitudes play little role in the pace of development

people in developing societies do less utility-maximizing

transformation of social institutions is necessary for development

all of the above

A good definition of the meaning of development is the

eliminations of absolute poverty

improvement in the quality of life

fulfillment of the potential of individuals

all of the above

Wich of the following is not an important objective of development?

increase in per capita income

the expansion of available choices

increases in individual and national self-esteem

all of the above are important objectives of development

The Millennium Development Goals include

eliminating the proportion of people living on less than $1 per day

universal primary education

increasing exports by one half

all of the above

The core values of development include

increasing income per person

reducing the inequality of income

the ability to meet basic needs

all of the above

It is not possible for a country to experience

economic development without economic growth

economic growth without economic development

both (a) and (b)

GNI

Gross national income

The total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.

GDP

Gross demestic product

The total final output of goods and servicesproduced by the country’s economy, within the country’s territory, by residents and nonresidents, regardless of its allocation between domestic and foreign claims.

VWL Kapitel 1

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