Why is GNI considered a more accurate measure than GDP?
It accounts for international trade (exports - imports).
Why are per capita values important?
To compare countries with different population sizes, leveling the playing field.
What does a large formal economy indicate?
Usually indicates a more developed country.
Why is the Gender Development Index (GDI) important?
Highlights gender-based disparities even in countries with high HDI scores.
What are the impacts of trade deficits?
May indicate over-reliance on foreign goods, can lead to currency outflow, may signal decline in domestic industries.
What do high infant mortality rates suggest?
Poor healthcare.
What do high literacy rates indicate?
High educational levels.
What do high social indicators correlate with?
High levels of development.
What are the limitations of using only economic indicators?
They do not account for the distribution of wealth or social and environmental well-being.
What are the impacts of gender inequality?
Limits women's potential, hinders societal development, and perpetuates cycles of poverty.
Compare GDP and GNI.
GDP: Goods/services produced within a country. GNI: GDP + (exports - imports). GNI accounts for international trade.
Compare formal and informal economies.
Formal: Regulated, taxed, included in GDP. Informal: Unregulated, untaxed, not included in GDP.
Compare HDI and GDI.
HDI: Overall development. GDI: Gender inequalities in development.
Compare GDP per capita and GNI per capita.
GDP per capita: Average income within a country. GNI per capita: Average income including international trade.
Compare economic and social measures of development.
Economic: Focus on wealth and income. Social: Focus on health, education, and well-being.
Compare developed and developing countries based on economic indicators.
Developed: High GDP/GNI, large formal economy. Developing: Low GDP/GNI, large informal economy.
Compare developed and developing countries based on social indicators.
Developed: High literacy, life expectancy, low infant mortality. Developing: Low literacy, life expectancy, high infant mortality.
Compare the impact of trade surpluses and trade deficits.
Trade Surplus: Exports > Imports, can boost economy. Trade Deficit: Imports > Exports, can lead to currency outflow.
Compare the use of GDP and GDP per capita in assessing development.
GDP: Total size of economy. GDP per capita: Average income, accounts for population size.
Compare the focus of MPI and HDI.
HDI: Broader measure of development. MPI: Focuses specifically on multidimensional poverty.
Cause and effect of high fertility rates?
Cause: Lack of access to family planning. Effect: Strain on resources, slower development.
Cause and effect of trade deficits?
Cause: Importing more than exporting. Effect: Currency outflow, potential devaluation.
Cause and effect of a large informal economy?
Cause: Lack of regulation and taxation. Effect: Lower tax revenue, slower development.
Cause and effect of gender inequality?
Cause: Discrimination in education and employment. Effect: Reduced economic growth, societal instability.
Cause and effect of high access to healthcare?
Cause: Government investment and infrastructure. Effect: Increased life expectancy, healthier population.
Cause and effect of high literacy rates?
Cause: Investment in education. Effect: Increased economic productivity, improved quality of life.
Cause and effect of low infant mortality rates?
Cause: Access to quality healthcare and nutrition. Effect: Increased life expectancy, healthier population.
Cause and effect of high GDP?
Cause: Increased production and consumption. Effect: Higher living standards, improved infrastructure.
Cause and effect of high GNI?
Cause: Strong international trade. Effect: Increased national income, improved economic stability.
Cause and effect of high HDI?
Cause: High life expectancy, education, and income. Effect: Improved quality of life, sustainable development.
