Economic Indicators
This economic indicator measures the total value of goods and services produced within a country in one year.
What is GDP?
This phase follows a trough and is characterised by rising employment and increasing consumer confidence.
What is expansion?
Access to healthcare, education, housing, and income all contribute to this.
What is standard of living?
This graph compares cumulative population percentages with cumulative income percentages.
What is the Lorenz Curve?
These ecosystems provide flood protection, water filtration, and habitats for wildlife.
What are wetlands?
Life expectancy, education, and income are combined to calculate this index.
What is the Human Development Index (HDI)?
This indicator would likely increase during a recession when businesses begin laying off workers.
What is the unemployment rate?
Governments often lower interest rates during this phase of the business cycle.
What is a trough?
Governments collect this to fund public services and welfare programs.
What is taxation?
A value of 0 on this measure represents perfect equality.
What is the Gini Coefficient?
This occurs when large habitats are divided into smaller isolated patches.
What is habitat fragmentation?
People forced to leave their homes but who remain within their own country's borders are known as these.
What are internally displaced persons (IDPs)?
A country's GDP rises by 4%, but its population rises by 6%, causing this measure to fall.
What is GDP per capita?
This phase occurs when economic growth reaches its highest point before beginning to slow.
What is the peak?
Building roads, railways, and communication networks are examples of investment in this.
What is infrastructure?
The further the Lorenz Curve is from the line of equality, the greater this becomes.
What is income inequality?
Changes in temperature, wind, and predation along habitat boundaries are known as this.
What is the edge effect?
Armed conflict often reduces access to healthcare, education, and employment, negatively affecting this.
What is wellbeing?
An economist wants to determine whether economic growth is sustainable and improving quality of life. They would likely use GDP together with HDI, unemployment data, and this environmental measure.
What is the ecological footprint?
Rising unemployment, falling spending, and declining business investment are characteristics of this phase.
What is contraction?
This government action redistributes income by collecting more tax from higher-income earners.
What is progressive taxation?
Country A has a Gini Coefficient of 0.25 and Country B has a Gini Coefficient of 0.60. Country B has more of this.
What is income inequality?
These structures reconnect isolated habitats and allow animals to move safely between them.
What are wildlife corridors?
Improving education, healthcare, and infrastructure are common strategies used to increase this.
What is development?
A country has low unemployment, low inflation, strong GDP growth, and rising wages. Economists would describe this as strong __________
What is economic performance?
A government increases spending on infrastructure while the central bank cuts interest rates. These actions are most likely occurring during this stage of the business cycle.
What is a trough or recession?
A developing country invests heavily in schools, hospitals, and clean water. The government's goal is to improve this broad measure of quality of life.
What is wellbeing and development?
Two countries have identical GDP per capita, but one has a much lower Gini Coefficient. Economists would argue this country likely has a more equal distribution of this.
What is income?
A conservation strategy that involves restoring damaged habitats, reconnecting ecosystems, and protecting biodiversity.
What is habitat restoration?
An international organisation that frequently undertakes peacekeeping missions and conflict resolution efforts.
What is the United Nations?