FARE 1300 Study Guide - Purchasing Power Parity, Thomas Robert Malthus, Demographic Transition

• School: University of Guelph
• Department: Food, Agricultural and Resource Economics
• Course: FARE 1300
• Professor: Spencer Henson

Document Summary

Thomas malthus- essay published in 1798 means of subsistence predicted continuous pressure on food supply pop would out grow production. Limits to growth published early 70s world would eventually run out of resources. He was wrong- technological advances in production means an increase in food supply. Comparing average income huge difference in average income across countries income measured in gdp market exchange rate and purchasing power parity poverty lines: Human development index: measures average achievements- health (life expectancy at birth) education (adult literacy rate/primary/secondary enrolment rate) standard of living- gdp/capita. Human poverty index: measures deprivations in measures if hdi health: probability at birth of not surviving at age 40 knowledge- adult illiteracy rate standard of living: % of pop not using an improved water source. J-shaped distribution of income across poor to rich. Lorenz curve: plot of % income against % of individuals/household. Basic food supply equation total output= yield x amount of land yield = output/unit of land.