+
Related Flashcards
Cards In This Set
| Front | Back |
|
Developed nations
|
Have a market economy, a relativey high standard of livng, a high GDP, industrialization, widespread private ownership of propery, and stable and effective gov
|
|
Transitional economies
|
A country that has moved (or ismoving) from a command economy to a market economy
|
|
Less developed countries (LDC)
|
Has a lower GDP, less well developed industry, and a lower standard of living
|
|
Infrastructure
|
The basic support systems needed to keep an economy going, including power, communications, transportation, water, sanitation, and education system
|
|
Per capita GDP
|
A nation's GDP divided by its total population
|
|
Infant mortality rate
|
The # of children who die within the first year of life per 1000 live births
|
|
Life expectancy
|
The average # of years a person can expect to liveif current mortality trends were to continuefor the rest of that person's life
|
|
Literacy rate
|
The percentage of years of ppl older than 15 who can read and write
|
|
Human development index (HDI)
|
Uses targeted economic, edu, and health statistics to asses a nation's lv of development
|
|
Capital flight
|
Occurs when capital fr a country is invested outside that country
|
|
Default
|
When a nation cannot pay interest or principle on a loan
|
|
World Bank
|
A financial institution that provides loans, policy advice, and techical assistance to low and middle income countries to reduce poverty
|
|
International Monetary Fund (IMF)
|
Promotes international monetary cooperation, fosters economic growth, and provides temporary financial assistance to countries to help ease balance of payment adjustment
|
|
Debt restructuring
|
Method used by countries to alter the terms of their debt agreements in order to achieve some advantage
|
|
Stabilization program
|
A required program of reforms imposed by the IMF to steady the economy of a debtornation in danger of default
|
