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ECON-110 Final Study Set

Terms in this set (45)

CA
comparative advantage [based on marginal opportunity costs]
GHG
greenhouse gas [emissions have increased by 50% during 1990-2010]
HDI
Human Development Index [1) healthy life life expectancy, b) knowledge literacy rate c) decent standard of living GNI per capita]
LDC's
least developed countries [currently 47 LDCs]
LIC's
low income countries [GDP per capita about less than $1,000]
MDG
Millennium Development Goals [8 total, w/ 18 targets, and 48 indicators]
MIC's
middle-income countries [GDP per capita between about $1,000-$12,000]
ODA
official development assistance [official term for aid]
OECD
Organization for Economic Cooperation and Development [rich country club]
PPC
production possibility curve [simplified model of what a country can produce]
SDG
Sustainable Development Goals [17 goals; adopted in Sept. 2015]
SSA
Sub-Saharan Africa [poorest place on Earth]
UDHR
Universal Declaration of Human Rights [30 articles; adopted in 1948]
UN
United Nations [Founded in 1945; 1) General Assembly, 2) ECOSOC, 3) Security Council, 4) Intl. Court of Justice, 5) Secretariat]
What's the current world population?
7.7 billion
Today, about a quarter of the population is between 0-14 years old. Another quarter are ages between what?
15-29. Although in most LDCs, children still constitute about half the population.
World population growth has been declining since the mid-1970s. In industrialized countries, pop. growth has been declining since the mid-60's and in LDCs since the mid-90's. What what proportion of LDCs still have fertility rates at or above 5 children per woman?
Half
When do we reach peak global population? What will influence when we reach this peak?
2120; Women's rights
What are the two most populous countries in the world?
China (1.4 B) and India (1.3 B)
What's the population of the African continent?
1.2 billion people
GDP per capita growth equals what?
GDP growth minus population growth
If comparing GDP per capita across countries with different levels of development, it makes sense to calculate what?
GDP per capita in PPP (purchasing power parity) as prices are on average lower in poorer countries.
China is now the world's largest economy if measuring GDP in PPP. The USA is the world's second largest economy by same metrics. What about if using market exchange rates?
USA first, China second
What is the world average income per capita? By day? How is it distorted?
$10,000; $27-a-day; by the rich
At the turn of the millennium, what proportion of the world's population earned less than $2 a day? How about less than $1 a day?
Half; One-fifth
At the turn of the millennium, the world's richest 1% received as much income as the poorest ______%. Inequality has increased since then.
57%
As of 2016, the top 1% owns more than the bottom ____%
99%
One of the most popular measures of inequality is the Gini coefficient, which is identical to the area between the Lorenz curve and the line of equality divided by ________.
the total area below the line of equality.
As of 2015, there were still some ______ million people living in extreme poverty (below PPP $1.90-a-day)
700
We define the global majority as more than ____% of the world's population living in low- and middle-income countries
80%
According to the UN, there are currently ____ least developed countries (LDCs)
47
The Universal Declaration of Human Rights contains _____ articles, some civil/political, but also economic rights.
30
2008 was the first year in history that more than _____ of the world's population lived in urban areas. It is expected that by 2030, about ___ billion people will live in urban areas. In Africa and Asia, the urban population will _______ between 2000 and 2030.
Half; 5; double
From 1990 to 2010, global GHG emissions (from burning fossil fuels) have grown by
50%
In 2005, about 1.1 billion people did not have access to safe water. Today, there are about _____ million people who do not have access to safe water.
600
In 2005, about 2.6 billion people did not have access to sanitation. Today, there are still about _____ billion people who do not have access to sanitation.
2
The UN consists of _____ member countries, including every sovereign nation except the Holy See.
193
Excluding peace-keeping operations, the annual UN budget is about $_______ billion, of which the US contributes about $_____ million (including peace-keeping the annual budget is about 10 billion)
2.5; 500
How many MDG's are here? How many targets and indicators are there? When were they adopted and when was the deadline?
8 MDGs, 18 targets, 48 indicators. Adopted in 2000, with a deadline in 2015.
How many SDGs are there? When were they created and when is their deadline?
17 total SDGs; adopted in 2015; to be achieved by 2030
The 4 key country-level processes to achieve the MDGs/SDGs are 1) Design a national strategy to achieve the goals, 2) make priority public investments to empower poor people, 3) _______, 4) _________.
3) Scale-up success, 4) Improve governance.
The 3 key recommendations for the international system to support country-level processes to achieve the MDGs/SDGs are 1) _____, 2) _______, 3) ________
1) Fix the aid system, 2) Adopt MDG-based trade policies, 3) Provide regional and global public goods.
Net official development assistance (ODA) of the industrialized countries amounts currently to about _____% of industrialized countries' GNI; despite repeated promises by rich countries to give ______% of their GNI as ODA.
0.3; 0.7
The costs of achieving the MDGs had been estimated to amount to about ____% of the industrialized countries' GNI (or $200 billion)
0.5
The costs of achieving the SDGs cannot be financed by aid, we need a completely new approach towards financing development (ideas like the ______ tax)
Tobin Tax (tax on currency exchanges)
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