eco

52問 • 1年前

問題一覧

according to the OECD (Organisation for Economic Co-operation and Development), is persons above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period

unemployment

TYPES OF UNEMPLOYMENT

FRICTIONAL STRUCTURAL CYCLICAL

arises because both workers and firms need time to locate each other and to digest the information about the value of the job match.

frictional unemployment

t is sometimes called search unemployment and can be voluntary, based on the circumstances of the unemployed individual.

frictional unemployment

The type of unemployment that creates a great deal of concern, and that dominates the policy discussions, is structural unemployment.

STRUCTURAL UNEMPLOYMENT

can arise for two distinct reasons. Suppose the number of workers looking for work equals the number of jobs available so that there is no imbalance between the numbers being supplied and demanded. Structural unemployment can still arise if the kinds of persons looking for work do not "fit" the jobs available. At any time, some sectors the economy are growing and other sectors are declining. If skills were perfectly transferable across sectors, the laid-off workers could quickly move to the growing sectors.

Structural unemployment

ARISES DUE TO UPS AND DOWNS OF BUSINES CYCLES

cyclical unemployment

is the process through which cities grow, and higher and higher percentages of the population comes to live in the city. It is also the process by which large numbers of people become permanently concentrated in relatively small areas, forming cities.

urbanization

Urbanization rates rise as long as the population in the urban areas exceeds the population growth in the rural areas.

true

is the most urbanized

japan

is the least urbanized

burundi

eveloping countries of today are more urbanized than developed countries

true

The notion that most governments in developing countries favor the urban sector in their development policies, thereby creating a widening gap between the urban and rural economies.

urban bias

The movement of people from rural villages, towns, and farms to urban centers (cities) in search of jobs

rural urban migration

Cost advantages to producers and consumers from location in cities and towns, which take the forms of urbanization economies and localization economies.

Agglomeration economies

Agglomeration effects associated with the general growth of a concentrated geographic region.

Urbanization economies

- Agglomeration effects captured by particular sectors of the economy, such as finance or autos, as they grow within an area

Localization economies

An action taken by one agent that decreases the incentives for other agents to take similar actions. Compare to the opposite effect of a complementarity.

Congestion

is a phenomenon of urban settlements growing disproportionately large in size due to rapid migration of people from other areas to.

Urban giantism

is a serious issue in many developing nations. Urbanization is taking place at a rapid pace. Everything is centered in the cities.

urban bias

causes of urban giantism import substitution and industrialization, “bread and circuses,” hub and spoke transport system, and compounding effect of locating the national capital in the largest city.

true

The urban informal sector is being promoted because of surpluses, creation of jobs, use of technology, and the recycling of waste materials. There is also access to training, and more benefits are given to the poor, especially women.

true

A form of urban bias that has often caused considerable distortions The country’s largest or first (“first-place”) city receives a disproportionately large share of public investment and incentives for private investment in relation to the country’s second-largest city and other smaller cities. As a result, the first city receives a disproportionately—and inefficiently—large share of population and economic activity.

first city bias

Migration has five-policy implications 1) Urban bias (more jobs in urban than in rural) leads to more rural-urban migration 2) Imbalances in expected income opportunities is crucial 3) Indiscriminate educational expansion fosters increased migration and unemployment 4) Wage subsidies and scarcity factor pricing can be counterproductive 5) Programs of integrated rural development should be encouraged

true

Agriculture has been the way of life of most of the citizens of the developing nations. This livelihood has been passed on from one generation to another, and has tied the families so close that if possible, can just continue to be passed on. However, modernization and industrialization stopped this dream of having a simple and happy life.

concerning Agricultural transformation and its relation to economic development

Agriculture is mostly centered in the rural areas. Much can be discussed about the sources of income in the countryside. Farming is the best foundation of industrialization. The resources and the produce are significantly needed by the industrial sector.

true

purpose of agriculture to provide sufficient low-priced food and manpower to the expanding industrial economy the leading sector in the economic development of developing countries The two-sector model of Lewis “is an example of a theory of development that places heavy emphasis on rapid industrial growth, with an agricultural sector fueling this industrial expansion by means of its cheap food and surplus labor

true

Agriculture has the ability to keep pace with the population. It might have even falsified the Malthusian trap that explains population increases faster than food supply. Countries have implemented programs to solve the problem of hunger

true

They even implement programs to protect the environment and natural resources. One of this is the Green Revolution, which is the boost in grain production associated with the scientific discovery of new hybrid seed varieties of wheat, rice, and corn that have resulted in high farm yields in many developing countries.

true

agriculture-based countries, agriculture is still a major source of economic growth—although mainly because agriculture makes up such a large share of GDP most of the world’s rural people live in what the report categorizes as transforming countries urbanized countries, rural-urban migration has reached the point at which nearly half, or more, of the poor are found in the cities, and agriculture tends to contribute even less to output growth.

true

the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

globalizations

THREE PERIODS OF GLOBALIZATION 1870–1914 1945–1980 1980 to the present

trye

This period resulted from the Industrial Revolution in Europe and the opening up of new, resource-rich, but sparsely populated lands in North America (the United States and Canada), South America (Argentina, Chile, and Uruguay), Australia and New Zealand, and South Africa. These lands received millions of immigrants and vast amounts of foreign investments, principally from England, to open up new lands to food and raw material production. These so-called regions of recent settlement grew rapidly during this period by exporting increasing amounts of food and raw materials to Europe in exchange for manufactured goods. This period of modern globalization came to an end with the breakout of World War I in 1914.

1870–1914

It was characterized by the rapid increase of international trade as a result of the dismantling of the heavy trade protection that had been put in place during the Great Depression that started in the United States in 1929 and during World War II.

1945–1980

The present globalization revolution (since 1980) is: ◦ its speed ◦ depth ◦ immediacy resulting from the tremendous improvements in telecommunications and transportation ◦ massive international capital flows resulting from elimination of most restrictions on their flow across national boundaries, as well as by the participation of most countries of the world.

1980 to the present

the ratio of imports and exports of goods and services to gross domestic product (GDP) GDP = C + I + G + (X-M) The GDP refers to the total value of all goods and services produced in the nation in a year.

INTERDEPENDENCE

It postulates that (other things equal), the bilateral trade between two countries is proportional, or at least positively related, to the product of the two countries’ GDP’s and to be smaller the greater the distance between the two countries (just like in Newton’s law of gravity in physics). That is, the larger (and the more equal in size) and the closer the two countries are, the larger the volume of trade between them is expected to be.

GRAVITY MODEL

Freely flowing across national boundaries than people Financial or portfolio capital (bank loans and bonds) generally move to nations and markets where interest rates are higher, and foreign direct investments in plants and firms flows to nations where expected profits are higher. This leads to the more efficient use of capital and generally benefits both lenders and borrowers.

CAPITAL FLOW

During the 1970s, Middle Eastern nations deposited a great deal of their huge earnings from petroleum exports in New York and London banks ◦ which then lent (recycled) them to Latin American and Asian governments and corporations

true

During the 1980s, china invested a large chunk of its huge export earnings in financial assets and real estate and to set up corporate subsidiaries in the United States

false

is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications.

International trade theory

has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.

International trade policy

is the record of all international trade and financial transactions made by a country's residents.

Balance of payments

A coordinated set of mostly restrictive fiscal and monetary policies aimed at reducing inflation, cutting budget deficits, and improving the balance of payments.

Stabilization policies

A group of developing-country debtors who join together to bargain as a group with creditors.

Debtors’ cartel

Altering the terms and conditions of debt repayment, usually by lowering interest rates or extending the repayment period.

Restructuring

◦ A program launched in 1989, designed to reduce the size of outstanding developing-country commercial debt through private debt forgiveness procured in exchange for IMF and World Bank debt guarantees and greater adherence to the terms of conditionality

Brady Plan

A mechanism used by indebted developing countries to reduce the real value of external debt by exchanging equity in domestic companies (stocks) or fixed-interest obligations of the government (bonds) for private foreign debt at large discounts.

Debt-for-equity swap

◦ The exchange of foreign debt held by an organization for a larger quantity of domestic debt that is used to finance the preservation of a natural resource or environment in the debtor country.

Debt-for-nature swap

◦ The 1980s fear in the developed world that developing countries would stop paying their debt obligations.

Debt repudiation

implies that the debt is just, and that its payment is denied, not because of sufficient legal defense, but to take advantage of the rule that a sovereign state cannot be sued by individuals. the refusal of public authorities to acknowledge or pay a debt. Other terms: decline, refuse, reject

Repudiation of a debt

has been affecting countries around the world. It is like a domino effect when a recession occurs in one country. The recession in 2007 was a considered great recession following the Great Depression of the 1930s. The causes of financial crisis are financial deregulation and international trade imbalances.

The Global Financial Crisis

uself

Samantha Ford · 77問 · 2年前

uself