AP Human Geography Ch.9 Vocabulary. Level. We do not share your email address with others. Accessed May 13, 2020. To see how well you know the information, try the Quiz or Test activity. But that may not accurately reflect the state of the U.S. economy. Description. Gross national income (GNI), the sum of a country’s gross domestic product (GDP) plus net income (positive or negative) from abroad. OECD. D 8. ... the legal economy that is taxed and monitored by a government and is included in a government's Gross National Product. Geographic distribution of the sectors of the economy 5. “How Do the Effects of Dollar Depreciation Show Up in the GDP Accounts?” Accessed May 10, 2020. B 12. The World Bank. It is included in GDP because it adds to the health of the U.S. economy by creating jobs for Kentucky residents, who use their wages to buy local goods and services. GNI is the total amount of money earned by a nation's people and businesses. As people learned to use water power and coal energy to manufacture goods, they saw large increases in agricultural productivity, population, and wealth. Instead, it values each nation's output by what it would be worth in the United States., The CIA Factbook doesn't measure GNP; it only uses GDP. Accessed May 13, 2020. “Gross National Product.” Accessed May 13, 2020. You would need to create a new account. Students use measures of development (e.g., gross domestic product per capita and the Human Development Index [HDI]) as tools to understand patterns of economic differences. For instance, if there were a severe drought in the United States, GNP would be higher than GDP because the foreign holdings of U.S. residents would be unaffected by the drought, unlike the U.S. investments of foreign workers. It is only used to allow you to reset your password. A. "Glossary: National Income and Product Accounts," Page 16. Millennium Development Goals 11. The following summary is from AMSCO AP Human Geography: The hearth of the Industrial Revolution was Great Britain in the 18th century. For that, you should use gross domestic product (real or nominal)—which measures production inside of a country, no matter who makes it. Definition: o a country organized in such a way that most power is placed in a central government , or there is limited political power at subnational scales of governance If you've accidentally put the card in the wrong box, just tap on the card to take it out of the box. Gross Domestic Product is the sum total of all goods and services produced in a country in a year. are in the same box the next time you log in. Gross domestic product (GDP), total market value of the goods and services produced by a country’s economy during a specified period of time. AP Human Geography: Exam Prep / Social Science Courses Course Navigator Gross Domestic Product: Definition and Components Next Lesson It is not a good gauge of whether the economy is growing or contracting. A weaker dollar can eventually boost GDP because it makes exports cheaper, which increases sales and production.. It doesn't stimulate economic growth in the United States because those manufacturing jobs were outsourced. If you knew the answer, tap the green Know box. Gross Domestic Product (GDP) The value of the total number of goods and services produced in a country in a given time period (normally one year). AP Human Geography. It includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country, The value of the total output of goods and services produced in a country in a given time period, The Gross National Product (GNP) of a given country divided by its population, The legal economy that is taxed and monitored by a government and is included in a government’s Gross National Product (GNP); as opposed to an informal economy, Economic activity that is neither taxed nor monitored by a government; and is not included in that government’s Gross National Product (GNP); as opposed to a formal economy, Model of economic development most closely associated with the work of economist Walter Rostow. 1206380920: Human Development Index (HDI) Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy. The social factors of the HDI are. The World Bank. You can also use your keyboard to move the cards as follows: If you are logged in to your account, this website will remember which cards you know and don't know so that they AP Human Geography: Unit – 7 - Industrial and Economic Development Patterns and Processes Practice Test ... B.Gross National Product C.Gross Domestic Product D.Human Development Index E. Purchasing Power Parity. Thus the developed-underdeveloped distinction was largely replaced by a developed-developing distinction. Fundamentals of Purchasing Power Parities, Gross Domestic Product as a Measure of U.S. Production. C 13. A 19. Gross domestic product: Definition. … Brookings. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out. “References :: Definitions and Notes.” Accessed May 13, 2020. GNP counts the investments made by U.S. residents and businesses—both inside and outside the country—and computes the value of all products manufactured by domestic companies, regardless of where they are made.. Make sure to remember your password. For details read our Corporate Finance Institute. Coal, oil, and natural gas are all examples of “Gross National Product (GNP).” Accessed May 13, 2020. These examples show why GNP is not as commonly used as GDP as a measure of a country's economy. D 10. Definition. E 14. AP Human Geography Unit VI. E 15. Gross Domestic Product: The value of the total output of goods and services produced in a country in a given time period (normally 1 year). Gross National Product (GNP) The total value of all goods and services produced by a country’s economy in a given year. His experience is relevant to both business and personal finance topics. It does not give an accurate picture of domestic resource usage. My Flashcards. GNP doesn't count any income earned in the United States by foreign residents or businesses, and excludes products manufactured in the United States by overseas firms. The United Nations Human Development Index is based on the assumption that a country' s development (A) (B) (D) is directly related to its position in the core or periphery is a function of social, demographic, and economic factors can improve if countries liberalize trade policies is indicated most accurately by its gross domestic product the literacy rate and amount of education. Cultural diffusion is about the spreading of culture over time. The definition came from developed countries. Student B read the same chapter in three hours because she was also listening to music, texting a friend, and eating snacks. Def: Core countries have high levels of development, a capacity at innovation and a convergence of trade flows. Play this game to review Other. 12th Grade. She writes about the U.S. Economy for The Balance. E 6. 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