Chapter 10

Question 1

capital flight

Answer 1

the movement (flight) of capital from one nation to another, via jobs and resources

Question 2

chattel slavery

Answer 2

a form of slavery in which one person owns another

Question 3

core nations

Answer 3

dominant capitalist countries

Question 4

debt accumulation

Answer 4

the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals

Question 5

debt bondage

Answer 5

the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom

Question 5

debt bondage

Answer 5

the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom

Question 6

deindustrialization

Answer 6

the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower

Question 7

dependency theory

Answer 7

a theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations

Question 8

extreme poverty

Answer 8

the state where one is barely able, or unable, to afford basic necessities

Question 9

first world

Answer 9

a term from the Cold War era that is used to describe industrialized capitalist democracies

Question 10

fourth world

Answer 10

a term that describes stigmatized minority groups who have no voice or representation on the world stage

Question 11

GINI coefficient

Answer 11

a measure of income inequality between countries using a 100-point scale, in which 1 represents complete equality and 100 represents the highest possible inequality

Question 12

global feminization of poverty

Answer 12

a pattern that occurs when women bear a disproportionate percentage of the burden of poverty

Question 13

global inequality

Answer 13

the concentration of resources in core nations and in the hands of a wealthy minority

Question 14

global stratification

Answer 14

the unequal distribution of resources between countries

Question 15

gross national income (GNI)

Answer 15

the income of a nation calculated based on goods and services produced, plus income earned by citizens and corporations headquartered in that country

Question 16

modernization theory

Answer 16

a theory that low-income countries can improve their global economic standing by industrialization of infrastructure and a shift in cultural attitudes towards work

Question 17

peripheral nations

Answer 17

nations on the fringes of the global economy, dominated by core nations, with very little industrialization

Question 18

relative poverty

Answer 18

the state of poverty where one is unable to live the lifestyle of the average person in the country

Question 19

second world

Answer 19

a term from the Cold War era that describes nations with moderate economies and standards of living

Question 20

semi-peripheral nations

Answer 20

in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle class marketplace

Question 21

subjective poverty

Answer 21

a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations

Question 22

third world

Answer 22

a term from the Cold War era that refers to poor, unindustrialized countries

Question 23

underground economy

Answer 23

an unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections