Exam Six Flashcards
(20 cards)
On which measured used to calculate the Human Development Index does the United States rank relatively poorly?
Life expectancy
The approach used to value household production based on what it would cost someone else to do the same job is called…
the replacement cost method
The approach used to value household production based on the money an individual could have earned at a paid job is called…
the opportunity cost method
The Human Development Index is based upon which three measures?
Life expectancy, an education and literacy index, and GDP per capita
Which one of the following approaches seeks to directly provide an overall estimate of well-being?
The Genuine Progress Indicator
T/F: A country that depletes its natural capital will actually display a higher value of Genuine Saving.
False
T/F: Currently about 16 out of every 100 workers in the United States are full-time homemakers.
True
T/F: One criticism of GDP as a measure of welfare is that it does not consider the distribution of income.
True
T/F: The Genuine Progress Indicator uses personal consumption expenditures as a starting point rather than GDP.
True
T/F: The per capita value of the Genuine Progress Indicator has been steadily decreasing in the United States since the mid-1970s.
False
About what percentage of all workers are full-time homemakers in the United States?
16%
A defensive expenditure is defined as…
an expenditure that maintains the status quo
The harvesting of trees by a timber company is an example of what environmental function?
The resource function
Which one of the following variables is NOT included in the calculations for the Human Development Index?
Economic inequality
T/F: In recent years per capita Genuine Progress Indicator for the United States has grown at a faster rate than per capita GDP.
False
T/F: The ability of the atmosphere to dissipate the surfer dioxide emissions from a coal power plant is an example of the sink function.
True
T/F: The Human Development Index adjusts GDP per capita for the level of economic inequality.
False
T/F: The U.S. Bureau of Economic Analysis has successfully introduced estimates of the value of household production into the system of national accounts for the United States.
False
T/F: GDP growth in recent decades attributed to the movement of women into the labor force fails to account for the lost value of household production.
True
Which one of the following variables is the starting point for calculating the Genuine Progress Indicator?
Personal consumption expenditures
