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Questions and Answers
Which measure is used to compare relative GNIs and GDPs by using a common set of international prices for all goods and services?
Which measure is used to compare relative GNIs and GDPs by using a common set of international prices for all goods and services?
- Purchasing power parity (PPP) (correct)
- Human Development Index (HDI)
- Gross Domestic Product (GDP)
- Official foreign-exchange rates
What does PPP stand for in the context of comparing developed and less developed countries?
What does PPP stand for in the context of comparing developed and less developed countries?
- Partnership for Productive Projects
- Personalized Purchasing Power
- Purchasing power parity (correct)
- Productive production process
What does the Human Development Index (HDI) measure?
What does the Human Development Index (HDI) measure?
- Absolute poverty
- Gross Domestic Product (GDP)
- Living levels and capabilities (correct)
- Purchasing power parity (PPP)
What characteristic is common among low-income countries according to the text?
What characteristic is common among low-income countries according to the text?
What does the concept of absolute poverty represent according to development economists?
What does the concept of absolute poverty represent according to development economists?
What is the classification system used by the World Bank to rank economies based on their gross national income per capita?
What is the classification system used by the World Bank to rank economies based on their gross national income per capita?
What is the gross national income (GNI) of a country?
What is the gross national income (GNI) of a country?
How are low-middle-income countries (LMCs) and upper-middle-income countries (UMCs) informally grouped?
How are low-middle-income countries (LMCs) and upper-middle-income countries (UMCs) informally grouped?
What are the basic indicators of development mentioned in the text?
What are the basic indicators of development mentioned in the text?
According to the World Bank's classification system, what are the different types of high-income countries?
According to the World Bank's classification system, what are the different types of high-income countries?
What is the primary purpose of using purchasing power parity (PPP) instead of exchange rates as conversion factors?
What is the primary purpose of using purchasing power parity (PPP) instead of exchange rates as conversion factors?
What is the main improvement in the reformulation of the Human Development Index (HDI) to the New HDI (NHDI)?
What is the main improvement in the reformulation of the Human Development Index (HDI) to the New HDI (NHDI)?
Why are per capita GNI comparisons between developed and less developed countries exaggerated when using official foreign-exchange rates to convert national currency figures into U.S. dollars?
Why are per capita GNI comparisons between developed and less developed countries exaggerated when using official foreign-exchange rates to convert national currency figures into U.S. dollars?
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