Ch 13, 3-4 1

Section 3 : Census official count of all people in a nation. Includes their place of residence. Every 10 years = decennial census Used in US mainly to apportion seats in the House of Representatives. Also used to decide where government resources might be best applied 2

Urban population people living in incorporated villages or towns with 2,500 or more inhabitants. 3

Rural population The remainder of the people of a nation not living in urban areas. Sparsely populated areas Little Rock, CA Antelope Valley 4

Center of population the point where the country would balance if…. – it could be laid flat – all the people weighed the same At time of text’s publishing….. – 2.8 miles east of Edgar Springs, Missouri.Edgar Springs, Missouri – Why there? Most of US population still lives on the east side of the country. 5

demographer professionals who study population – Growth – Density – Other characteristics Most important factors of population are: – Fertility – Life expectancy – Net immigration levels 6

Fertility rate the number of births per 1000 women in the lifetime of the women. – Bureau of the Census estimates Roughly 1.88 births/US woman. 7

Life expectancy average remaining lifespan of a people who reach a given age – Census Bureau estimates: 78.74, today 82.1, 2050 Other Nations – Britain 81.5 – Japan 87 – Mexico 77.2 – Sierra Leone 38 8

Net immigration the change in population caused by people moving into or out of the country. – Census Bureau estimates: 880,000 Based on – Immigrants: 1,040,000 – Emigrants: 160,000 9

Baby boom the high US birthrate from 1946 to 1964 Baby boomers are just beginning to reach retirement age: Creates a strain on: – Pensions – SSI – Medicare benefits Fewer young workers means – More money will go out of social security than go in. 10

Population pyramid a type of bar graph that shows the break down of population by Age Gender Usually starts wider at younger ages Then gets narrower as older ages expire. 11

Hudsucker Proxy What is the product he wants to sell? What are 3 benefits that make this product profitable? List 5 questions the board has. Why does the board say “It better break eventually?” What is the cost to produce? What is the suggested sale price? What is the final suggested price? What does the owner of the toy shop do to try and increase sales? How does the product become marketable? As a result what does the toy shop owner do?

Dependency ratio the number of children and elderly/100 persons in the working-age. – Estimated by the Census Bureau – 1998 = 63.9% – 2020 = 67.5% – 2030 = 77.5% – 2040 = 78% 13

Section 4 : Real GDP per capita dollar amount of all income made in a country, in a year, per person. – Note: Counts non-workers Retired children 14

Growth triangle table that shows Annual compound rates of growth between selected periods of time. – almost no growth – 2.9% growth, – 2.1, – 2.2, – Roughly 2.1,

Standard of living the quality of life based on the possession of….. – Necessities – Luxuries that make life easier, entertaining Strong free-market economies provide more leisure time: – Families – Hobbies – recreations 16

Tax base the incomes and properties that may be taxed: In a good economy, more revenues are collected Government can decide to: – Use for public programs – Reduce taxes 17

Renewable resources primary goods that can be replenished for future use. Many resources are NOT so they must be conserved or alternate resources found/developed. 18

Capital-to-labor ratio the total capital stock Divided by the number of workers in the labor force High ratio encourages production – = economic growth Savings and investment stimulate growth – This is only possible in a few developed countries, presently. 19

Labor productivity the amount of output produced per unit of labor input. – Increasing ratio = increasing productivity – Decreasing ratio = decreasing productivity The official measure of productivity 20

Assessments: section 3, Checking for Understanding 1 How does the rate of population growth affect economic growth? The size of the population directly affects the growth of one of the factors of production, labor 21

3 Describe how U.S. population is estimated Census: every household receives a form to complete Other methods are used 22

4 List the three most important factors that determine future population growth. Fertility Life expectancy Net immigration 23

Assessments: Section 4, Checking for Understanding 1 Why is real GDP per capita considered the best measure of long-term economic growth? It adjusts for both inflation and population changes 24

3 Describe two measures of economic growth. real GDP is the dollar amount of final output for the whole economy Real GDP per capita is the dollar amount of real GDP produced per person 25

4 Explain why economic growth is important. It raises the standard of living Eases the burden of government Helps solve domestic problems Can boost the economies of foreign trade partners 26

5 Identify the factors influencing economic growth. Land Capital Labor entrepreneurs 27

6 Explain how productivity relates to economic growth. Productivity is essential for economic growth When productivity increases….. – The prices of goods and services tend to stay low – Domestic employment expands When productivity decreases….. – Prices can rise – Unemployment in domestic industries can rise 28

EW Image, p. 358 Which regions are expected to show a decrease in proportion of population? West North Central East North Central East South Central New England Middle Atlantic 29

EW Image, p. 359 How many males and females were between the ages of 15 to 24 in the year 2002? Approximately 40 million 30

WE Image, p. 360 Which ethnic components of the population are expected to make the largest gains? Which will incur the larges losses? Asians and Hispanics Whites 31

WE Image, p. 361 What is the Hispanic percentage of the population projected to be in the year 2050?

WE Image, p. 364 How do real GDP and real GDP per capita differ? 364 Real GDP is the dollar amount of final output for the whole economy Real GDP per capita is the dollar amount of real GDP produced per person 33

WE Image, p. 365 At what rate did real GDP per capita grow between 1965 and 1990? 2.2 percent 34

WE Image, p. 367 How did the productivity index change between 1959 and 1973? Productivity grew at a compound annual rate of 3.2 percent 35

Quick Write How can modernized countries deal with the coming population shift?