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Economics

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Clarissa Nitzsche

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Cards in this guide (16)
How does prophase you differ from prophase II

Prophase I and prophase II occur during meiosis. During prophase I there is only one diploid cell. During prophase II there are two haploid cells.

What characteristics do developed nations share

Developed countries have high levels of living standards. The characteristics they share are: a high GDP or gross domestic product per capita, industrialization and a very high Human Development Index or HDI rating.

How does a high gross domestic product GDP affect health care

Quality health care is expensive, and nations with higher GDP can afford better care.

A manufacturing plant that only makes expensive handbags is an example of

specialization

What do the Mississippi and Amazon rivers have in common

Both are facing increasing pollution.

Both are experiencing a loss of biodiversity.

Biodiversity is defined as

how many different types of plant and animal life exist in a given habitat.

Chemicals used to increase crop growth

fertilizer

How economic and political power is distributed between the sexes

gender empowerment measure

Define the human poverty index

The human poverty index is a collection of statistics set to measure the human condition. The different statistics are combined to make the index.

Does weathering and erosions cause rolling plains to chage into mountains

no

What is cutting fields into hillsides called

Usually this is called Terracing. Terraces are cut into a hillside.

Whats called when the government controls the entire economy

When the government controls the entire economy, it is called a centrally planned economy.

What factors go into determining a country's Human Development Index (HDI) rating

literacy and education;; and life expectancy

What are the following major elements of a high quality of life

A)access to effective education

(B) Ability to get quality health care

(D)Removal and appropriate treatment of waste

Life Expectancy

Life Expectancy

How much you need for retirement depends a great deal on how long you expect to live. This calculator can give you an idea of your life expectancy based on your current age, smoking habits, gender and several other important lifestyle choices.

Gross Domestic Product

You’ve been watching the financial news and you’ve heard that the U.S. reports its GDP has risen in the fourth quarter. You have some vague idea that this means something about the economy but aren’t quite sure what it is. So what is the GDP? GDP is an acronym that stands for Gross Domestic Product. It is a figure that represents the monetary value of all end-use goods and services produced within a country for a period of time. End-use is a term that means the final product – a company’s sales of car parts it manufactures to Ford wouldn’t be included, but the sale of the end product, the car, is part of the calculation. So when you hear that the GDP is up for the fourth quarter that simply means that more goods or services were produced in this period. It is generally used as a way to take the pulse of the overall economy as a whole. It is calculated using the following formula: GDP = C + I + G + (X-M) Where: C = Consumption Stuff we buy. These are sometimes reported as sub-categories: durable goods, non-durable goods, and services. I = Investment No, this isn’t your 401(k). It is the total of business investment, i.e. when IBM builds a new plant or the Apple store adds to its inventory. It also includes the purchase of new-construction homes by private households. G = Government spending Everything from the building of the interstate highways to the purchase of M1A2 Abrams tanks that the government spends. These figures do not include so-called transfer payments such as social security or veterans’ benefits. (X-M) = Total Exports less Total Imports (aka Net Exports) Self-explanatory. GDP is often used to measure a country’s economic health. When it is taken into context with the population of the country it is known as GDP per capita. GDP per capita is calculated as GDP / population, and is often used as an informal gauge of standard of living within a country.

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