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    which of the following causes the most problems in countries with low economic growth? poor education low unemployment higher standard of living rapid population increase

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    Economic Globalization Flashcards

    Start studying Economic Globalization. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

    Economic Globalization

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    Economic interdependence means that every country has an interest in global economic

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    Growth

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    As economies grow, they demand more

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    raw materials.

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    1/17 Created by Taylor_Wilhite

    Terms in this set (17)

    Economic interdependence means that every country has an interest in global economic

    Growth

    As economies grow, they demand more

    raw materials.

    Globalization has affected developed countries by

    turning their focus to providing services.

    What are the purposes of international economic organizations? Select all that apply.

    to resolve trade disputes

    to observe global economics

    to encourage trade in developing countries

    Globalization has led groups of nations to join _____organizations.

    trade

    The graph shows US Oil Import Prices from 1995 to 2010.

    What most likely caused the steady increase in price per barrel of oil between 2001 and 2008?

    A global recession

    NAFTA can be defined as

    an agreement between bordering nations.

    Which group is an example of a commodity organization?

    Organization of Petroleum Exporting Countries

    A multinational organization is defined as a business that

    operates in multiple countries.

    ... ...

    The graph below shows global trade and percentage of GDP.

    What conclusion should be drawn from the graph?

    Trade increases create higher GDP percentage rates.

    In countries such as China, globalization has led to

    a better standard of living.

    How can businesses best take advantage of globalization?

    by increasing employment and production

    Which of the following causes the most problems in countries with low economic growth?

    higher standard of living

    The graph shows US trade with Mexico.

    In what years did US exports to Mexico remain approximately the same?

    2000-2005

    Why do companies choose to outsource work?

    to increase profits

    What is the primary purpose of the European Union?

    to allow more trade between countries

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    Verified questions

    ECONOMICS

    Explain the relationship between the terms in each of these pairs. a. price floor, minimum wage b. rationing, black market

    Verified answer ECONOMICS

    A candy company makes the popular Henney's, whose main ingredient is chocolate. The rectangular-shaped bar is 10 centimeters (cm) long, 5 cm wide, and 2 cm thick. The spot price of chocolate has decreased by 60%, and the company has decided to reward its loyal customers with a 50% increase in the volume of the bar! The thickness will remain the same, but the length and width will be increased by equal amounts. What will be the length and width of the new bar?

    Verified answer ECONOMICS

    Suppose that there is a three-person city. The three residents arc considering having a fireworks display. Gabriela is willing to contribute $100 toward the display, while Jerome is willing to pay$80, and Katelyn is willing to pay $60. The fireworks display costs$120. (a) Will any single citizen alone be willing to pay for the fireworks? (b) What recommendation can you make to this city that will benefit all three citizens?

    Verified answer ECONOMICS

    When buying a house, you obtain a (unit of account/mortgage) to help pay for it.

    Verified answer

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    QUESTION

    Which organization declared the requirement that consumption by today's generation must be accompanied by sufficient conservation of resources to protect the future generation's ability to consume as well?

    Source : quizlet.com

    Turkey Overview: Development news, research, data

    Turkey’s economy grew 11 percent in 2021, the fastest among the G20 countries, as COVID-19-related measures were gradually relaxed in Turkey and abroad.

    The World Bank in Turkey

    Turkey has quickly adopted measures to help contain the spread of COVID-19 and save lives, whilst providing economic support to affected firms and households. The economic outlook is more uncertain, than usual and will depend on how quickly this unprecedented crisis can be brought under control.

    Overview

    Context Strategy Economy

    Country Context

    TURKEY2021

    Population, million 84.1

    GDP, current US$ billion

    810.0

    GDP per capita, current US$

    9,626.1

    Life Expectancy at Birth, years

    77.7

    Turkey’s economy grew 11 percent in 2021, the fastest among the G20 countries, as COVID-19-related measures were gradually relaxed in Turkey and abroad. Although Turkey’s interest rate cuts from September supported demand, they also amplified macro-financial instability, which, combined with spillovers from the Ukraine-Russia war, will lower 2022 growth to 1.4 percent. Rising energy and food price inflation will hurt the poor the most, compromising a gradual employment-driven, post-pandemic poverty recovery.

    Turkey enjoyed high growth rates between 2002 and 2017 that propelled the country to the higher reaches of upper-middle-income status. But productivity growth slowed as reform momentum waned over the past decade, and efforts turned to supporting growth with credit booms and a demand stimulus, exacerbating internal and external vulnerabilities. High private sector debt, persistent current account deficits financed by short-term portfolio flows, high inflation, and high unemployment have been intensified by macro-financial instability since August 2018. Moreover, the economy’s high energy and carbon intensity make it vulnerable to global energy supply and price volatility and pose a challenge for Turkey’s exporters in the context of global and regional decarbonization policies.

    The Turkish economy experienced an exchange rate crisis in the second half of 2018 that resulted in weak growth performance in 2019. By early 2020 the economy had started to recover, just as it was hit by the COVID-19 crisis in the second quarter of the year. However, Turkey was among the few countries with a positive growth performance in 2020 (at 1.8 percent), on account of a sizable credit push by the Government. Turkey’s growth accelerated to the highest rate among G20 countries in 2021 (at 11 percent) as COVID-19-related measures were gradually relaxed in Turkey and abroad and authorities loosened monetary policy. However, the monetary stimulus also caused deteriorating macro-financial conditions. The lira depreciated to record lows and inflation rose to record highs, with the former reaching a peak of 18.00 to the U.S. dollar on December 20, 2021, and the latter reaching 61.1 percent year-on-year in March 2022. External and fiscal buffers deteriorated as the Central Bank dipped into foreign reserves to support the lira and the Government deployed tax rate reductions and fuel subsidies to dampen the impact of inflation.

    The Russian invasion of Ukraine is amplifying the headwinds facing the Turkish economy. Given Turkey’s close economic ties to both Russia and Ukraine, the war is expected to disrupt Turkey’s energy and agricultural trade, tourist arrivals, and overseas construction activities. Price spikes of essential commodity imports will directly affect households and industry and adversely impact the current account balance and inflation. Low-income households in Turkey are especially affected as they spend nearly twice as much of their budget as the wealthiest on food and housing.

    Last Updated: Apr 19, 2022

    RELATED

    Turkey Country Partnership Strategy 2018 - 2021

    LENDING

    Turkey: Commitments by Fiscal Year (in millions of dollars)*

    1,492 1,113 1,855 1,500 641 2018 2019 2020 2021 2022 0 500 1000 1500 2000

    *Amounts include IBRD and IDA commitments

    MULTIMEDIA

    @[email protected]#=img=# VIDEO SEP 08, 2021

    Turkey Takes Action to Improve Transportation in Cities

    VIEW ALL MULTIMEDIA

    Turkey Takes Action to Improve Transportation in Cities

    THE WORLD BANK GROUP

    International Finance Corporation

    Multilateral Investment Guarantee Agency

    STAY CONNECTED

    PHOTO GALLERY MORE PHOTOS

    In Depth

    @[email protected]#=img=#

    Safe & Resilient Schools

    Safe & Resilient Schools

    Future is Equal Future is Equal

    Women’s Co-Operatives

    Women’s Co-Operatives

    Project Map Project Map

    Additional Resources

    Related

    Turkey Country Partnership Strategy 2018 - 2021

    Country Office Contacts

    Ankara, Turkey

    Ugur Mumcu Cad. No:88 2nd Floor,

    +90 312 4598300

    [email protected]

    Source : www.worldbank.org

    Population, poverty and economic development

    Economists, demographers and other social scientists have long debated the relationship between demographic change and economic outcomes. In recent years, general agreement has emerged to the effect that improving economic conditions for individuals generally ...

    Philos Trans R Soc Lond B Biol Sci. 2009 Oct 27; 364(1532): 3023–3030.

    doi: 10.1098/rstb.2009.0145

    PMCID: PMC2781831 PMID: 19770153

    Population, poverty and economic development

    Steven W. Sinding*

    Author information Copyright and License information Disclaimer

    This article has been cited by other articles in PMC.

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    ABSTRACT

    Economists, demographers and other social scientists have long debated the relationship between demographic change and economic outcomes. In recent years, general agreement has emerged to the effect that improving economic conditions for individuals generally lead to lower birth rates. But, there is much less agreement about the proposition that lower birth rates contribute to economic development and help individuals and families to escape from poverty. The paper examines recent evidence on this aspect of the debate, concludes that the burden of evidence now increasingly supports a positive conclusion, examines recent trends in demographic change and economic development and argues that the countries representing the last development frontier, those of Sub-Saharan Africa, would be well advised to incorporate policies and programmes to reduce high fertility in their economic development strategies.

    Keywords: economic development, family planning, millennium development goals, population, poverty

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    1. INTRODUCTION

    From the time of Malthus onwards, economists, demographers and other social scientists have been debating whether and how high fertility and rapid population growth affect economic outcomes and vice versa. There are at least four basic forms of the debate.

    Does a large number of children diminish a family's present well being and future prospects?

    Does rapid population growth adversely affect the overall performance of the economy and its ability to achieve and sustain general well being?

    Does low income, or poverty, contribute to high fertility?

    Is rapid population growth a symptom, rather than a cause, of low national output and poor economic performance?

    In other words, the debates occur at both the macro- and the micro-levels and are about the direction of causality.

    Despite these debates, a broad consensus has developed over time that as incomes rise, fertility tends to fall. There is little debate about the causal relationship between rising prosperity and declining fertility. Generally speaking, there has been a uniformly high correlation between national income growth and falling birth rates, and between family incomes and fertility. Economists and demographers for the most part agree that important ingredients of improved living standards, such as urbanization, industrialization and rising opportunities for non-agrarian employment, improved educational levels, and better health all lead to changed parental perceptions of the costs and benefits of children, leading in turn to lower fertility. In other words, there is no longer much debate about whether or not improved economic conditions, whether at the family level or at the societal level, lead to lower fertility. There are, of course, important differences between countries, and even within countries, regarding the timing and the pace of these changes, but that there is a causal relationship running from improved living standards to lower fertility is no longer in much dispute (National Research Council 1986).

    Where debate remains active and at times quite contentious has to do with whether causality runs the other way—i.e. does reduced fertility improve the economic prospects of families and societies? Here there is anything but consensus, although, as I will argue in this paper, there appears to be a slowly growing convergence of views in favour of an affirmative answer to this question. This paper, in other words, addresses the question of whether reduced fertility, and more particularly public policies designed to reduce fertility, can lead to higher incomes and improved living standards.

    A good deal of research, of course, has been conducted on this question. The paper attempts to summarize the present state of such research and the conclusions that emerge from it today. My purpose is to try to identify what policymakers can conclude from the present state of research and then to speculate on what might be accomplished between now and 2050 if policymakers were to pursue what I take to be the course of action suggested by the research findings.

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    2. WHAT DO WE KNOW—MACRO?

    Through the nineteenth and the first half of the twentieth century, intellectuals were roughly divided between the followers of Malthus and the followers of Marx. Crudely stated, Malthusians believed that high rates of population growth condemned societies to more or less permanent states of underdevelopment and that only by breaking the iron linkage of high fertility to poverty could real improvements in standards of living be achieved. Marx, on the other hand, argued that high fertility was a symptom, not a cause, of poverty and said that only by bringing about a radical transformation in the underlying causes of poverty would living standards rise and birth rates begin to fall.

    In the modern era, which is to say since World War II, there have been three broad stages of economic thinking on the relationship between rapid population growth and economic performance. In the first stage, which followed the post war discovery by demographers of extremely rapidly expanding populations in many parts of the developing world, the work of scholars such as Coale & Hoover (1958), Myrdal (1968) and Enke (1970) came to be widely accepted. It was decidedly neo-Malthusian, arguing that only by bringing rapid population growth under control could countries hope to achieve improved economic performance and high standards of living. While this work hardly represented a consensus among development economists, it did capture the imagination of policymakers, particularly in the richer countries, and contributed to the formation of the modern ‘population movement’ as we have known it since the 1960s. This movement took as a given fact that rapid population growth harmed the prospects for development and that strong policies to reduce population growth rates were an essential precondition of sustained economic development (National Academy of Sciences 1971).

    Source : www.ncbi.nlm.nih.gov

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