Differences in Income and Economic Growth (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
GNI (Gross National Income)
GNI (Gross National Income)
Total income earned by a country's residents domestically & abroad
Real GNI purpose
Real GNI purpose
Adjusts nominal GNI for inflation to enable time comparisons
PPP (Purchasing Power Parity)
PPP (Purchasing Power Parity)
Adjusts for actual purchasing power of currencies in home economies
High-income economies' share of global income (raw GNI)
High-income economies' share of global income (raw GNI)
Approximately two-thirds
High-income countries' population share
High-income countries' population share
Roughly 15% of world population
GNI per capita calculation
GNI per capita calculation
Total GNI divided by population (average income per person)
Extreme poverty threshold
Extreme poverty threshold
Living on less than USD 2.15 per day (2017 PPP)
Extreme poverty rate: 1981 vs 2019
Extreme poverty rate: 1981 vs 2019
Fell from 43.6% (1981) to 9% (2019)
Top 1% global wealth ownership
Top 1% global wealth ownership
Own 46% of global wealth
Bottom 50% global wealth ownership
Bottom 50% global wealth ownership
Own less than 1% of global wealth