GDP
What does GDP stand for ?
Gross Domestic Product
What does HDI stand for ?
Human Development Index
What is a Social Gap?
This term refers to the disparity in access to resources and quality of life between different groups in a society.
GDP measures a Country‘s what ?
Economy
HDI measures a Country’s what ?
People/Population
What is Real GDP?
This specific type of GDP is adjusted for inflation, making it a more accurate measure of economic growth.
Who created the HDI ranking system ?
The UN = United Nations
What is the Urban-Rural Divide? Provide an example!
Inequality amongst different sectors of a Country. In Canada, this "Divide" explains why people in big cities often have better access to hospitals and other resources/services than those in smaller villages.
The UN can give a score from __ to __ for a Country’s HDI score.
0 to 1
What University is MR. Knight currently enrolled in ?
Bishops University
What are Final Goods?
GDP only counts these types of goods, like a finished cake, rather than the flour or other ingredients used to make it.
What are the “Three specific pillars“ the UN looks at to evaluate a Country ?
Health, Education, and Standard of Living
What are the ”3” common Social Gaps ?
The wealth Gap - The Gender Gap - Urban-Rural Divide
What town is Mr. Knight from ?
Stanstead
What is my favorite sport to play or watch?
Hockey/Soccer/Lacrosse
GDP only counts Market Activities. Name two types of valuable "Non-Market" work that are completely ignored by GDP
Unpaid housework/childcare, volunteering, or DIY home repairs (mowing your own lawn).
Why can a country have a High GDP but a Low HDI? Give one specific reason related to how a government might spend its money.
A country might have lots of wealth (GDP), but if the government does not invest that money into public healthcare or education systems, their HDI score will remain low.
What is the flaw with the standard HDI system ?
It doesn’t show the gap between the rich and the poor.
Why does the disaster Paradox help increase GDP ?
The amont of money that will be spent on rebuilding/purchasing new materials.
True or false Cole Caufield scored a hat trick this weekend ?
True !!!!!
Name the 5 components of the GDP formula: C + I + G + (X-M)
Consumption, Investment, Government Spending, and (Imports - Exports)
What is the IHDI or Inequality-adjusted HDI?
This version of the index "penalizes" a country’s score if their wealth, health, and education are not shared fairly among all citizens.
If a Country’s “IHDI“ is much lower than the HDI, the Country has a major __________ ?
Social Gap problem
What was the 'fun fact' about me that most people don't know?
Fire Fighter
Our first class I showed you 2 photos of my 2 dogs, what was at least one of their names ?
Duke - Finnegan