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15 Cards in this Set

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capital controls
restrictions on business investments by foreigners requiring that investment capital stay in the host country for a minimum length of time or that companies be partially controlled by local investors.
Regional trade bloc
an association of neighboring countries that have agreed to lower trade barriers for one another.
World Trade Organization
a global institution whose stated mission is the lowering of trade barriers and the establishment of ground rules for international trade
World Bank
A global lending institution that makes loans to countries that need money to pay for development projects
Structural Adjustment Policies
requirements for economic reorganization toward less government involvement in industry, agriculture, and social services, sometimes made by the World Bank and the IMF as conditions for giving loans to borrowing countries
living wages
minimum wages high enough to support a healthy life
development
usually used to describe economic changes like greater productivity of agriculture and industry that lead to better standards of living
Gross Domestic Product
the market value of all goods and services produced by the citizens and capital within a given nation's borders and within a given year; dividing the value by the number of people in the country results in per capita value
Problems with using the GDP
- it is an average figure
- no account for purchasing power of currency
- measures only formal economy
- ignores other aspects on development in country (i.e. healthcare)
Power Parity
the amount of goods and services that US $1 will purchase in a given country
Demography
the study of population patterns and changes
Average population density
the average number of people per unit area
rate of natural increase
rate of population growth measured as excess of births over deaths per 1000 individuals per year without regard to the effects of migration
birth rate
the number of births in a given population in a specified community
death rate
the ratio of total deaths to total population in a specified community