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Economic Development (Midterm) > Poverty, Inequality, and Development > Flashcards

Poverty, Inequality, and Development Flashcards

1
Q

How can we measure inequality?

A

Size Distribution of income
Lorenz Curve
Gini Coefficients

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2
Q

The measurement is based on the quantity (how much is the income) irrespective of income streams.

A

Size Distribution of income

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3
Q

Deals with individual persons or households and the total income they receive.

A

Size Distribution of income

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4
Q

Measurement of a degree of inequality in the distribution of income

A

GINI COEFFICIENT

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5
Q

more equal distribution of income

A

Low GINI coefficient

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6
Q

more unequal distribution of income

A

High GINI coefficient

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7
Q

measured by the percentage of people unlikely to live beyond 40 years of age

A

Basic education

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8
Q

Fraction of people unlikely to live beyond 40 years of age

A

Life

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9
Q

measured by the percentage of people without access to safe water plus the percentage of children who are underweight

A

Overall economic provisioning

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10
Q

What is so bad about income inequality?

A

Income inequality leads to economic inefficiency.

Extreme income disparities undermine social stability and solidarity.

Inequality is generally viewed as unfair.

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11
Q

prone to illness and life-threatening circumstances

A

Limited access to medical services

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12
Q

Limited survival rate for female infants

A

female vs. male ratios

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13
Q

Altering the Functional Distribution of Income through Policies Designed to Change Relative Factor Prices.

Institutional constraints and faulty government policies is the reason why the relative price of labor is higher than what is supposed to be determined by the forces of demand and supply

A

Policy Option

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14
Q

Modifying the Size Distribution through Progressive Redistribution of Asset Ownership

A

Policy Option

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14
Q

the rich are required to pay taxes from a larger percentage of their total income than the poor.

A

Progressive income taxes

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15
Q

Reducing the Size Distribution at the Upper Levels through Progressive Income and Wealth Taxes

A

Policy Option

16
Q

Direct Transfer of Payments and the Public Provision of Goods and Services

Budget allocation for programs that concern general welfare such as education, supply of clean water and electricity, food programs, subsidies, and incentives.

A

Policy option

17
Q

a hand up rather than a handout

A

Workfare programs

18
Q

These three are the measurement of inequality

A

Size distribution of income
Lorenz curve
Gini coefficient

19
Q

The greater the curvature of this, the greater the relative degree of inequality.

A

Lorenz curve

20
Q

The greater the curvature of this, the greater the relative degree of inequality.

A

Lorenz curve

Economic Development (Midterm) (4 decks)

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