Per Capita Income.pdf
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The average income that people in an area or nation make during a specific time period, often a year, is measured as per capita income. It is computed by dividing the entire amount of money made in an area or nation by the total number of people living there.
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An economics lecture by Professor Dave Abler of Penn State University retrieved from:
http://450.aers.psu.edu/economic_conditions.cfm
This lecture provides a broad overview of economic conditions in developing countries.
Specific topics covered include:
Daily life in developing countries
Some terminology to get us started
Economic growth vs. economic development
Selected socioeconomic statistics
Common socioeconomic characteristics of developing countries
Key socioeconomic differences among developing countries
Daily Life in Developing Countries
The differences between day-to-day life in developing countries and the U.S. are huge and
can be very difficult for us to comprehend. Virtually everything – what people own, what
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as the "$1-a-day" and "$2-a-day" poverty lines.
So what would it be like living on $1.53 per day? An article from USA Today may be helpful
in putting things into perspective.
Get rid of your car and all of your furniture and appliances except one chair and one
table – no TV, stereo, refrigerator, dishwasher, clothes washer, dryer, or even
lamps.
Get rid of all your clothing except your oldest, most beaten-up shirt and pair of
jeans. If you're the head of the family, you can keep one pair of shoes. If not, get rid
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Remove the food from the kitchen. You can keep one small bag of flour, some sugar
and salt, and a few potatoes, onions, cabbages or dry beans. You'll cook with
firewood or dried cow dung.
Shut off the water, gas and electricity. While you're at it, dismantle the bathroom.
Your new bathroom will be the local stream or pond. You'll get your drinking water
from there too.
Move out of the house and into the toolshed. Your neighborhood will be a small
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http://450.aers.psu.edu/economic_conditions.cfm
Don't waste any time on newspapers, books and magazines. They'll be meaningless
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Hold $10 in case of emergency – no bank account, pension plan or insurance
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The income tax system began in earnest in 1913 with the Sixteenth Amendment to the Constitution that gave Congress legal authority to tax income. A rudimentary income tax system was tried during the Civil War but was eventually declared unconstitutional. There was no income tax during the high watermark of America's industrial capitalism, beginning in about 1870 and continuing to 1910. If you made money in that era, you kept it. Many of the most famous capitalist names emerge from this era: Rockefeller, Carnegie, McCormick, Swift, and Vanderbilt.
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Economic Conditions in Developing Countries
An economics lecture by Professor Dave Abler of Penn State University retrieved from:
http://450.aers.psu.edu/economic_conditions.cfm
This lecture provides a broad overview of economic conditions in developing countries.
Specific topics covered include:
Daily life in developing countries
Some terminology to get us started
Economic growth vs. economic development
Selected socioeconomic statistics
Common socioeconomic characteristics of developing countries
Key socioeconomic differences among developing countries
Daily Life in Developing Countries
The differences between day-to-day life in developing countries and the U.S. are huge and
can be very difficult for us to comprehend. Virtually everything – what people own, what
they do for a living, what they do in their leisure time, what they expect out of life for
themselves and their children, the way they think about themselves and others, the things
they take for granted, and more – differs dramatically.
According to the World Bank, nearly 1 billion people live below the international poverty line
of $1.08 in consumption expenditures per person per day in 1993 purchasing power parity
(PPP) adjusted U.S. dollars. (Purchasing power parity is defined below.) That's about $1.53
per person per day in today's dollars. Another 1.5 billion are only a little better off, living on
less than $2.15 per day in 1993 PPP adjusted U.S. dollars. These are commonly referred to
as the "$1-a-day" and "$2-a-day" poverty lines.
So what would it be like living on $1.53 per day? An article from USA Today may be helpful
in putting things into perspective.
Get rid of your car and all of your furniture and appliances except one chair and one
table – no TV, stereo, refrigerator, dishwasher, clothes washer, dryer, or even
lamps.
Get rid of all your clothing except your oldest, most beaten-up shirt and pair of
jeans. If you're the head of the family, you can keep one pair of shoes. If not, get rid
of them too.
Remove the food from the kitchen. You can keep one small bag of flour, some sugar
and salt, and a few potatoes, onions, cabbages or dry beans. You'll cook with
firewood or dried cow dung.
Shut off the water, gas and electricity. While you're at it, dismantle the bathroom.
Your new bathroom will be the local stream or pond. You'll get your drinking water
from there too.
Move out of the house and into the toolshed. Your neighborhood will be a small
village or shantytown.
http://450.aers.psu.edu/economic_conditions.cfm
Don't waste any time on newspapers, books and magazines. They'll be meaningless
to you because you'll give up literacy.
Hold $10 in case of emergency – no bank account, pension plan or insurance
policies.
Cultivate three acres as a tenant farmer. If the weather's good, you can expect $300
to $500 per year in cash crops. You'll pay one third ...
As with most things in economics, taxation is a mixed blessing. It.docx
As with most things in economics, taxation is a mixed blessing. It is a blessing for those who receive dollars from taxpayers, which is about 40% of the population; and it is a nuisance for those who have to pay the taxes. The objective of this unit is to help you understand taxes and understand how they affect your life and the economy.
The income tax system began in earnest in 1913 with the Sixteenth Amendment to the Constitution that gave Congress legal authority to tax income. A rudimentary income tax system was tried during the Civil War but was eventually declared unconstitutional. There was no income tax during the high watermark of America's industrial capitalism, beginning in about 1870 and continuing to 1910. If you made money in that era, you kept it. Many of the most famous capitalist names emerge from this era: Rockefeller, Carnegie, McCormick, Swift, and Vanderbilt.
Two major disasters in our economic history, the Great Depression and World War II, changed the role of taxation and government forever. Beginning in the mid-1930s, following the ideas of John Maynard Keynes, the U.S. government began to spend money much more aggressively. In the past, government believed mostly in a balanced budget, but that changed when the Great Depression lingered for an entire decade.
Later, to finance a two-front, world war, taxes were raised to about 90%. Thus began the era of big taxes to pay for big government. Taxes, of course, have fallen from that lofty peak to a more modest 35% marginal tax rate at present, but the number of taxes has increased exponentially. All but six states have an income tax; likewise, many counties and cities have an income tax.
Though there are many ways to slice the tax onion, perhaps the best is the following:
Progressive taxes: This is a tax system in which tax rates increase as income increases. In other words, the more money you make, the more taxes you pay. This system places a greater burden on those best able to pay and almost no burden on the poor. For example, according to Internal Revenue Service (IRS) statistics, the top 50% of earners pay 97% of the taxes. The top 1% of earners pays 30% of all income taxes. On the other hand, over fifty million people, or one-third of the adult population in the United States, pay no taxes whatsoever.
Regressive taxes: In theory, these are the opposite of progressive taxes; these tax strategies fall more heavily on the poor. Common sense would suggest that these would be rarely used in a well-organized economy, but in fact, they are among the most commonly used because of their relative invisibility. Sometimes called the nickel and dime tax, regressive taxes tend to be small for each individual event; therefore, they are not widely noted. A good example of a regressive tax is the sales tax. It takes a much larger percentage of a poor person’s income than the income of someone of wealth. The reason there is no protest is that it takes such a small amount of money on ...
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This document discusses ways to measure development between countries, including economic development indicators like GDP and human development indicators like health, education, and quality of life. It provides examples of development data for different countries and notes that while some countries may appear developed based on economic statistics, human development indicators provide a more complete picture of overall societal progress. Development happens unevenly and indices must be used carefully as averages may mask inequalities within countries.
Economic growth and economic development
Economic growth refers to an increase in a country's real GDP or output, measured as a higher value of goods and services produced, while economic development encompasses broader socioeconomic changes that improve living standards. Development considers changes in factors like income distribution, employment opportunities, education, health, and sustainability, whereas growth only focuses on quantitative increases in production. The Human Development Index provides a more comprehensive measure of a country's progress than GDP alone by also accounting for literacy, life expectancy, and other quality of life indicators.
Income Distribution, Poverty and Living Standard
Income distribution, poverty, and living standards can be measured in various ways. The document discusses four main approaches to measuring income: the transaction approach, activities approach, balance sheet approach, and value added approach. It also discusses defining and measuring poverty and income inequality using metrics like the Gini index. Poverty reduction measures aim to permanently lift people out of poverty, while standard of living is measured using GDP per capita and factors like consumer spending, business investment, government spending, and net exports.
What is macroeconomics
This document provides information about macroeconomics and measuring national income. It discusses the key topics of macroeconomics including full employment, economic growth, price stability, and external balance. It also outlines the three approaches to measuring national income - the income approach, expenditure approach, and output approach. The roles of government in implementing monetary and fiscal policy to influence the national income are also covered.
1. GDP and Country Development
The document discusses several indicators used to measure and compare economic development levels between countries. It explains that while natural resources were historically important, productivity is now seen as the main indicator of development. The Human Development Index (HDI) is the most widely used composite measure, assessing health, education and income. However, no single measure can fully capture development, so indices continue evolving to include more factors like environment, gender equality and technology. GDP and GNP per capita also provide comparisons, but have limitations and do not show income distribution or quality of life factors. Overall development analysis requires considering multiple economic, social and environmental indicators.
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Define and distinguish between economic growth and economic development.
Economic growth refers to the increase in a country's GDP over a short period of time, while economic development is a long-term process that leads to increased real national income as well as qualitative social changes like reduced poverty and inequality. The key features of an underdeveloped country include low per capita income, widespread poverty, low productivity, and dependence on agriculture and primary exports. Causes of underdevelopment include scarcity of resources, lack of capital, outdated technology, and effects of colonialism.
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The document discusses various economic measurements and factors that are used to evaluate the strength of a nation's economy, including Gross Domestic Product (GDP), standard of living, inflation rate, unemployment rate, productivity, and others. It provides examples and charts to illustrate trends in these measurements in the United States over recent decades, finding generally stable inflation, low unemployment, and increasing productivity and GDP.
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The study includes discussion on following concepts-
Lorenz Curve
Gini Coefficient
Absolute Poverty
Foster Greer Thorbecke Measure
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Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
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KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
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