The following summary is from AMSCO AP Human Geography: The hearth of the Industrial Revolution was Great Britain in the 18th century. The demographic factor of the HDI is . Gross Domestic Product is the sum total of all goods and services produced in a country in a year. Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. "Understanding National Accounts: Second Edition," Page 20. Ex: ... GNP (Gross National Product) Definition. Eric Estevez is financial professional for a large multinational corporation. It doesn't stimulate economic growth in the United States because those manufacturing jobs were outsourced. E 14. GNP is the value of all the income earned by a country’s citizens and businesses, regardless of whether they are located in their own country or abroad. the literacy rate and amount of education. Industrialization and Economic Development Key Terms/Concepts to Know 1. Subject. E 6. 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 Learn vocabulary, terms, and more with flashcards, games, and other study tools. We do not share your email address with others. When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. It is only used to allow you to reset your password. ... For example, student A may read a chapter in an AP Human Geography study guide in an hour. GNP per capita is a measurement of GNP divided by the number of people in the country. B 4. It refers to the total monetary value, in US dollars, of all the goods, services, and investments produced by a country in a year. 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 “GDP Formula.” Accessed May 13, 2020. 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). Accessed May 13, 2020. Description. The gross value of the product minus the costs of raw materials and energy. Then tap the card to flip it. gross domestic product (GDP) the total monetary value of all goods and services produced domestically by a country hemisphere half of the Earth human characteristics characteristics that reflect the human make-up of an area human development index The output of a Toyota plant in Kentucky isn't included in GNP, although it's counted in GDP, because the revenue from the sales of Toyota vehicles goes to Japan, even though the products are made and sold in the United States. Total Cards. Definition. B 5. GNP is the same as GDP + Z. That means GNP is a more accurate measure of a country's income than its production. 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. “Gross National Product.” Accessed May 13, 2020. Answer Key 1. It's Korean workers who will boost their country's economy and GDP by buying local goods and services. C 9. It is used to measure and track a nation's wealth from year to year. Accessed May 13, 2020. “Economy.” Accessed May 13, 2020. 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). 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. The World Bank. are in the same box the next time you log in. 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. Central Intelligence Agency. Sectors of the economy (trends and implications) 4. GNI is the total amount of money earned by a nation's people and businesses. Per capita income (PPP) is around $7,641, ranked 144th. You would need to create a new account. ap human geography … 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 Look at the large card and try to recall what is on the other side. Alternative to international trade that emphasizes small businesses and worker owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizing, and comply with minimum environmental and safety standards, Compares the ability of women and men to participate in economic and political decision making, Compares the level of development of women with that of both sexes, The value of the total output of goods and services produced in a country in a given time period (normally 1 year), Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy, The percentage of a country’s people who can read and write, A company that conducts, research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located, The total value of all goods and services produced by a country’s economy in a given year. It includes things both produced Sectors of the economy (primary, secondary, and tertiary) 3. AP Human Geography 9.3 Human Development Index Activity Caroline Howes / 1 Instructions The Human Development Index (HDI) is used to evaluate the level of development of the world’s nations. Maintains that all countries go through 5 interrelated stages of development, A general term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system, Structuralist theory based on the idea that certain types of political and economic relations between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop, Theory originated by Immanuel Wallerstein and illuminated by his three-tier structure, proposing that social change in the developing world is inextricably linked to the economic activities of the developed world, With reference to Immanuel Wallerstein’s world-systems theory, the division of the world into the core, the periphery, and the semi-periphery as a means to help explain the interconnections between places in the global economy, Zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment, Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment, 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, The diffusion outward of the benefits of economic growth and prosperity from the power center or core area to poorer districts and people, A level of economic and social achievement below what could be reached- given the natural and human resources of an area- were necessary capital and technology available, The total value of goods and services produced by a country per year plus net incomes earned abroad by its nationals; formerly called “gross national product.”, LEFT ARROW - move card to the Don't know pile. Browse. Description. Gross Domestic Product (GDP) is the total value of goods and services produced by a country in a year. D 10. Bureau of Economic Analysis. Created. 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. Test 2. B 2. Depends Who You Ask, Per Capita: What It Means, Calculation, How to Use It, GDP: Understanding a Country's Gross Domestic Product, The Surprising Ways China Affects the U.S. Economy, Why You Should Care About the Nation's Debt, Glossary: National Income and Product Accounts, Understanding National Accounts: Second Edition. My Flashcards. Def: Core countries have high levels of development, a capacity at innovation and a convergence of trade flows. “GDP as a Measure of Economic Well-Being,” Page 7. 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.. Periphery countries usually have less development and are poorer countries. For that, you should use gross domestic product (real or nominal)—which measures production inside of a country, no matter who makes it. This income can be a significant factor in boosting economic growth and would be counted in GNP, but it isn't counted in GDP—which may cause the economic power of these economies to be understated.. It refers to the total monetary value, in US dollars, of all the goods, services, and investments produced by a country in a year. Gross domestic product (GDP), total market value of the goods and services produced by a country’s economy during a specified period of time. A 7. Bhutan has a gross domestic product of around US$5.855 billion (adjusted to purchasing power parity), making it the 158th-largest economy in the world. If you knew the answer, tap the green Know box. Privacy Policy and A. Home » AP Human Geography » Outlines » Human Geography: Culture, Society and Space, 8th Edition Textbook. B 12. “References :: Definitions and Notes.” Accessed May 13, 2020. Corporate Finance Institute. 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. Millennium Development Goals 11. 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. Use these flashcards to help memorize information. 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