Economic development Flashcards
Purchasing power parity
an exchange rate based on the ratio of the price of a basket of products in different countries
Human Development Index (HDI)
a measure of living standards that takes into account income, education, and life expectancy
Absolute poverty
a condition where people’s income is too low to enable them to meet their basic needs
Relative poverty
a condition where people are poor in comparison to others in the country.
A vicious circle of poverty
a situation where people become trapped in poverty
Emigration
the act of leaving the country to live in another country
Infant mortality rate
the number of deaths per 1000 live births in a year
Population pyramid
a diagram showing the age and gender structure of a country’s population
Optimum population
the size of the population which maximizes the country’s output per head
