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UN RANKS RP IN MIDDLE OFHUMAN DEVELOPMENT
Washington ± The good news is it¶s not toobad in the Philippines. The bad news is it¶snot too good too, either.
In fact, the country is right in the middle of the UN¶s human development index, whichranks 177 countries according to per capitaincome, human care, life expectancy,
educational levels and standards of living.
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In 84th place in the HD index, the Philippines
is also in the middle of the grouping of theAssociation of Southeast Asian Nation(ASEAN).
It is behind Singapore (in 25th place), Brunei(34), Malaysia (61), and Thailand (74) in theHDI ranking of the United NationsDevelopment Program, but ahead of Indonesia (108), Vietnam (109), Cambodia
(129), Myanmar (130), and Laos (133).
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The index published in November found thatpeople in Norway on average lead the best
lives in a comparison of life expectancy,literacy, income, education, and quality of lifeamong 177 countries.
Gross domestic product per person per year in Norway was $38,454, life expectancy was79.6 years, literacy was 99 percent and
enrollment was 100 percent.
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The top 10 countries in the index indescending order were Norway, Iceland,
Australia, Ireland, Sweden, Canada, Japan,United States, Switzerland, and Netherlands.
Niger, ranked in 177th place had a GDP of $779, life expectancy of 44.6 years, literacy of 28.7 percent, and enrollment of 21 percent.
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Variables of HDI
1. GDP ² Per Capita Income
2. Life Expectancy3. Educational Level4. Human Care
5. Standard of Living
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The Philippines had a GDPof $4,923, life expectancy of 69.91 years, and literacy of
92.5 percent.
Source: Jose Katigbak: The Philippine Star Washington Bureau, January 5, 2007)
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WHAT ARE THE REALMEASURES OF
DEVELOPMENT?
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MACROECONOMICS- The part of economics concernedwith the economy as a whole, with
such major aggregates as thehousehold, business, andgovernmental sectors and with totals
for the economy.
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ECONOMIC GOALS1. ECONOMIC GROWTH
2. FULL EMPLOYMENT
3. ECONOMIC EFFICIENCY
4. PRICE LEVEL STABILITY5. ECONOMIC FREEDOM
6. AN EQUITABLE DISTRIBUTION OFWEALTH
7. ECONOMIC SECURITY
8. BALANCE OF TRADE
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Government
BusinessmanWorkers/Laborers
Economy
Explain the Model
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Businessman
Workers/Laborers
Government
Economy
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FIRMS
HOUSEHOLDS
Input Market Output Market
Factors of Production
Land, Labor, Capital
Entrepreneur Goods and Services
Consumption
Circular Flow of a Very Simple Economy
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FIRMS
HOUSEHOLDS
Input Market Output Market
Factors of Production
Land, Labor, Capital
Entrepreneur Goods and Services
Consumption
Circular Flow of a Simple Economy
Rent, Wages
Interest, Profit
Income
Expenditures
Income
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FIRMS
HOUSEHOLDS
Input Market Output Market
Factors of Production
Land, Labor, Capital
Entrepreneur
Goods and Services
Consumption
Rent, Wages
Interest, Profit
Income
Expenditures
Income
Financial Institutions
SAVINGS
INVESTMENTCircular Flow of Economy with Savings & Investment
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FIRMS
HOUSEHOLDS
Input Market Output Market
Factors of Production
Land, Labor, Capital
Entrepreneur Goods and Services
Consumption
Circular Flow of Economy with Government Sector
Rent, Wages
Interest, Profit
IncomeExpenditures
Income
GOVERNMENT
Subsidy
Tax
Tax
Services
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1
HOUSEHOLDS
Input Market 2
Factors of Production
4-7 Goods and Services
8
Rent, WagesInterest, Profit
3
Expenditures
9
12
Subsidy13
Tax14
Financial Institutions
10
11
International Trade
15 Import
Circular Flow with International Relation
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16-18. Examples of Financial Institution
19-20. Examples of services given by thegovernment