Chapter 10 Flashcards
What is the expected years of schooling in developed countries?
16.3 years in school
What is the expected years of schooling in developing countries?
9.3-10.2 years
What is the ratio of young to old people in developing countries?
6 times as many young people than old
What is the ratio of young to old people in developed countries?
The two are nearly the same
What has happened to the share of national wealth held by the richest 1 percent in the U.S. and U.K. in recent decades?
It has increased.
How does the U.S. compare to other very high HDI countries regarding mortality rate during childbirth?
The U.S. has a much higher birth rate among teenage women and a higher mortality rate among women during childbirth.
What is the percentage of women in the national legislature in the U.S. compared to other high HDI countries?
Lower than in other high HDI countries.
What are the 4 Asian Dragon countries?
South Korea, Singapore, Taiwan, and Hong Kong.
What are Rostow’s 5 stages of economic development?
1st Stage: Traditional, 2nd Stage: Preconditions to Takeoff, 3rd Stage: Takeoff, 4th Stage: Drive to Maturity, 5th Stage: High Mass Consumption
Which countries are considered petroleum rich states?
Saudi Arabia, Kuwait, Bahrain, Oman, UAE.
When did industrial growth begin in petroleum rich states?
Beginning in the 1970s.
What barriers to Indian trade were removed?
Monopolies were removed, tariffs had to be lowered, and foreign companies were given the ability to set up factories and sell in India.
What is microfinance?
Small loans and other financial support to people and small businesses in developing countries that can’t get loans from normal banks.
What is the fair trade price return for producing countries?
Fair trade returns 1/3rd of a price to the producer compared to less than 1% in normal international trade.
What are maquiladoras?
Located within 35 miles of the US-Mexican border.
What are key factors of maquiladoras?
Proximity to US markets, inexpensive labor, weak regulations, and lots of female workers.
What is the main assumption of Rostow’s models?
They are based on the assumption that all countries pass through the same stages of economic development.
What is the difference between Rostow’s model and the Dependency Theory?
Rostow’s model states that every country will become developed, while the dependency theory states that some places will always be underdeveloped.
Why was fair trade developed?
To allow workers to keep more of their profits and to remove the middle men.
What are the traits of highly developed countries in regard to sectors?
HDCs have a shrinking secondary sector and an increasing tertiary, quaternary, and quinary sector.
What is microcredit?
A loan given to people in need, usually women, to encourage development of small businesses.
Which country has the highest GDP currently (other than the U.S.A.)?
China.
What are the characteristics of the Human Development Index?
It measures the level of development of every country based on a decent standard of living, a long and healthy life, and access to knowledge/education.
What are the differences between MDCs and LDCs?
MDCs are more developed, wealthier, have more education, better life expectancy, and usually more equality.
What is dollarization?
Abandoning the local currency of a country and adapting the dollar as the local currency.
What are NGOs?
Non-profit organizations that are not part of a government.
