Dimensions and Strategies of Development Quiz

Poverty Measurement

• Absolute poverty is characterized by a lack of basic necessities such as food, shelter, and clothing.
• Relative poverty is based on the standard of living in a given society, comparing the poor to the rest of the population.
• The economic indicator used in measuring poverty is the Poverty Line, which varies across countries.

Economic Indicators

• Gross National Income (GNI) is a measure of a country's income, including income earned by citizens and businesses abroad.
• GNI measures the total income of a nation, including income from foreign investments.

Inequality and Poverty

• The common measure of inequality associated with relative poverty is the Gini Coefficient, which represents the distribution of income or wealth.
• The primary characteristic of absolute poverty is the lack of basic necessities.

Economic Indicators (continued)

• Aggregate Demand is the economic indicator used to measure the total level of demand for goods and services in an economy.

Social Indicators

• Life expectancy is a significant social indicator in measuring poverty, as it reflects a country's overall health and well-being.

Development and Globalization

• The Washington Consensus recommends liberalization, deregulation, and privatization to developing countries.
• A criticism of the Washington Consensus is that it prioritizes economic growth over social welfare and equality.
• A key feature of Neoliberalism compared to Classic Liberalism is its emphasis on the free market and limited government intervention.
• A common criticism of the IMF is that it imposes strict conditions on loans, which can exacerbate poverty and inequality.
• The primary focus of the UN's Millennium Development Goal on gender equality is to promote women's empowerment and reduce gender disparities.
• The main goal of sustainable development is to meet the needs of the present without compromising the ability of future generations to meet their own needs.
• The primary role of microloans is to provide small-scale financing to entrepreneurs and small businesses in developing countries.
• A consequence of globalization in relation to unskilled labor is that it can lead to job displacement and exploitation.