Quiz Bee Hangover
In 2024, aside from Bulgaria and Palau, what country moved from being classified as upper-middle income to high income?
Russia
The total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.
Gross National Income (GNI)
According to Sen, what matters more than income in measuring poverty?
functioning
Give at least three (3) questions that Development Economics tries to answer.
Too many to type here
Give two criticisms of the SDGs
Hierarchy of Goals, Targeting a Poverty Line; Too Many Goals
In the World Happiness Report of 2024, which country was ranked as the happiest in Asia?
Singapore
What is not counted in the GNI?
Income earned in the domestic economy by nonresidents
Give two examples of functioning according to Sen
It can range from being healthy, being well nourished, and well clothed, to being mobile, having self-esteem, and “taking part in the life of the community
Give two reasons why growth is not equal to development.
Give one of the three principles of the SDGs
In 2024, according to UNDP, which country has the highest human development index (HDI)?
Switzerland
A measure that takes into account a country’s health and education attainments in addition to income
Human Development Index (HDI)
According to him, when income grows, we should ask these three questions to see if there truly is development: What has been happening to poverty? What has been happening to unemployment? What has been happening to inequality?
Dudley Seers
An economy in which production is mainly for personal consumption and the standard of living yields little more than basic necessities of life—food, shelter, and clothing.
subsistence economy
Principle of SDGs that means that the SDGs apply to every nation (with action encouraged from every sector).
Universality
According to the UNDP, who is the top-performing country in the world in terms of achieving the Sustainable Developing Goals (SDGs)?
Finland
The World Bank classifies countries according to four ranges of average national income: Low (LICs), Lower-Middle (LMCs), Upper-Middle (UMCs), and High (HICs) according to what measure?
GNI
W Arthur Lewis concluded that the advantage of economic growth is not that wealth increases happiness, but that it increases the range of ___________
human choice
Give two sources of disparity between real income and actual advantages
With the intention of developing a long-term vision for the Philippines which is anchored on a vision genuinely owned by its citizens, the National Economic and Development Authority (NEDA) commissioned this nationwide study on the aspirations, values and principles of Filipino people
Ambisyon 2040
In 2024, according to World Bank data, which country has the highest estimated population?
India
The government of this country attempted to make “gross national happiness” rather than gross national income its measure of development progress
Bhutan
Give at least two factors affecting happiness according to Richard Layard
family relationships, financial situation, work, community and friends, health, personal freedom, and personal values
An approach that argues that poverty cannot be properly measured by income or even by utility as conventionally understood; what matters fundamentally is not the things a person has (or the feelings these provide) but what a person is, or can be, and does, or can do.
Serves as the country’s overall blueprint in development planning for the next six years. It reflects the government’s policies, strategies, programs, and legislative priorities in support of and consistent with President Ferdinand R. Marcos, Jr.’s Socioeconomic Agenda.
Philippine Development Plan (PDP)