{"id":1143,"date":"2017-08-04T21:08:40","date_gmt":"2017-08-04T21:08:40","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/chapter\/32-1-the-diversity-of-countries-and-economies-across-the-world\/"},"modified":"2023-10-27T02:20:32","modified_gmt":"2023-10-27T02:20:32","slug":"32-1-the-diversity-of-countries-and-economies-across-the-world","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/chapter\/32-1-the-diversity-of-countries-and-economies-across-the-world\/","title":{"raw":"Chapter 4 - The Diversity of Countries and Economies across the World","rendered":"Chapter 4 &#8211; The Diversity of Countries and Economies across the World"},"content":{"raw":"<div class=\"bcc-box bcc-highlight\">\r\n<h3>Learning Objectives<\/h3>\r\nBy the end of this section, you will be able to:\r\n<ul>\r\n \t<li>Analyze GDP per capita as a measure of the diversity of international standards of living<\/li>\r\n \t<li>Identify what classifies a country as low-income, middle-income, or high-income<\/li>\r\n \t<li>Explain how standards of living are influenced by geography, demographics, industry structure, and economic institutions<\/li>\r\n<\/ul>\r\n<\/div>\r\n<p id=\"Ch32Mod01P01\">The national economies that make up the global economy are remarkably diverse. Let us use one key indicator of the standard of living, <strong class=\"no-emphasis\">GDP per capita<\/strong>, to quantify this diversity. You will quickly see that quantifying this diversity is fraught with challenges and limitations. We\u00a0must consider using <strong class=\"no-emphasis\">purchasing power parity<\/strong> or \u201cinternational dollars\u201d to convert average incomes into comparable units. Purchasing power parity\u00a0takes into account the fact that prices of the same good are different across countries.<\/p>\r\n<p id=\"Ch32Mod01P03\">GDP per capita allows us to rank countries into high-, middle-, or low-income groups. Low-income countries are those with $1,025 per capita GDP per year; middle-income countries have a per capita GDP between $1,025 and $12,475; while high-income countries have over $12,475 per year per capita income. As seen in <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab01\">Table 1<\/a> and <a class=\"autogenerated-content\" href=\"#CNX_Econ_C32_002\">Figure 1<\/a>, high-income countries earn 68% of world income, but represent just 12% of the global population. Low-income countries earn 1% of total world income, but represent 18.5% of global population.<\/p>\r\n\r\n<table id=\"Ch32Mod01Tab01\" summary=\"This table has five columns and four rows. The first row is a header row and it labels each column, 'Ranking based on GDP\/capita,' 'GDP (in billions),' '% of Global GDP,' 'Population,' and '% of Global Population.' Under the 'Ranking based on GDP\/capita' column are the values: Low income ($1,025 or less); Middle income ($1,025 - $12,475); High income (more than $12,475); and Total world income. Under the 'GDP (in billions)' column are the values: $612.7; $23,930; $51,090,000,000; and $75,592,941. Under the '% of Global GDP' column are the values: 0.8%; 31.7%; and 67.5%. Under the 'Population' column are the values: 848,700,000; 4,970,000,000; 1,306,000,000; and 7,162,119,434. Under the '% of Global Population' column are the values: 11.8%; 69.4%; and 18.8%.\">\r\n<thead>\r\n<tr>\r\n<th>Ranking based on GDP\/capita<\/th>\r\n<th>GDP (in billions)<\/th>\r\n<th>% of Global GDP<\/th>\r\n<th>Population<\/th>\r\n<th>% of Global Population<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>Low income ($1,025 or less)<\/td>\r\n<td>$612.7<\/td>\r\n<td>0.8%<\/td>\r\n<td>848,700,000<\/td>\r\n<td>11.8%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Middle income ($1,025 - $12,475)<\/td>\r\n<td>$23,930<\/td>\r\n<td>31.7%<\/td>\r\n<td>4,970,000,000<\/td>\r\n<td>69.4%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>High income (more than $12,475)<\/td>\r\n<td>$51,090,000,000<\/td>\r\n<td>67.5%<\/td>\r\n<td>1,306,000,000<\/td>\r\n<td>18.8%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><em>World Total income<\/em><\/td>\r\n<td><em>$75,592,941<\/em><\/td>\r\n<td><\/td>\r\n<td><em>7,162,119,434<\/em><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td colspan=\"5\"><strong>Table 1.<\/strong> World Income versus Global Population (Source:<a href=\"http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20\">http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20<\/a>)<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<figure id=\"CNX_Econ_C32_002\">\r\n<div class=\"title\">\r\n<div class=\"title\"><\/div>\r\n<\/div>\r\n<figcaption>\r\n\r\n[caption id=\"\" align=\"aligncenter\" width=\"754\"]<img src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2017\/08\/CNX_Econv1-2_C32_02.jpg\" alt=\"The pie charts illustrate the inverse proportionality of global GDP by country to population.\" width=\"754\" height=\"349\" \/> <strong>Figure 1.<\/strong> Percent of Global GDP and Percent of Population. The pie charts show the GDP (from 2011) for countries categorized into low, middle, or high income. Low-income are those earning less than $1,025 (less than 1% of global income). They represent 18.5% of the world population. Middle-income countries are those with per capita income of $1,025\u2013$12,475 (31.1% of global income). They represent 69.5% of world population. High-income countries have 68.3% of global income and 12% of the world\u2019s population. (Source: <a href=\"http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20\">http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20<\/a>)[\/caption]\r\n\r\n<\/figcaption><\/figure>\r\n<p id=\"Ch32Mod01P04\">An overview of the regional averages of GDP per person for developing countries, measured in comparable international dollars as well as population in 2008 (<a class=\"autogenerated-content\" href=\"#CNX_Econ_C32_003\">Figure 2<\/a>), shows that the differences across these regions are stark. As <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab02\">Table 2<\/a> shows, nominal GDP per capita in 2012 for the 581.4 million people living in Latin America and the Caribbean region was $9,190, which far exceeds that of South Asia and sub-Saharan Africa. In turn, people in the high-income nations of the world, such as those who live in the European Union nations or North America, have a per capita GDP three to four times that of the people of Latin America. To put things in perspective, North America and the European Union have slightly more than 9% of the world\u2019s population, but they produce and consume close to 70% of the world\u2019s GDP.<\/p>\r\n\r\n<figure id=\"CNX_Econ_C32_003\">\r\n<div class=\"title\">\r\n<div class=\"title\"><\/div>\r\n<\/div>\r\n<figcaption>\r\n\r\n[caption id=\"\" align=\"aligncenter\" width=\"805\"]<img src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2023\/10\/CNX_Econv1-2_C32_03.jpg\" alt=\"This image is a colored map of the world with only a few areas having high GDPs.\" width=\"805\" height=\"344\" \/> <strong>Figure 2.<\/strong> GDP Per Capita in U.S. Dollars (2008). There is a clear imbalance in the GDP across the world. North America, Australia, and Western Europe have the highest GDPs while large areas of the world have dramatically lower GDPs. (Credit: modification of work by Bsrboy\/Wikimedia Commons)[\/caption]\r\n\r\n<\/figcaption><\/figure>\r\n<table id=\"Ch32Mod01Tab02\" summary=\"This table has three columns and six rows. The first row is a header row and it labels the last two columns, 'Population (in millions),' and 'GDP Per Capita.' Under the first unlabeled column are the values: East Asia and Pacific; South Asia; Sub-Saharan Africa; Latin America and Caribbean; Middle East and North Africa; and Europe and Central Asia. Under the 'Population (in millions)' column are the values: 2,006; 1,671; 936.1; 588; 345.4; and 272.2. Under the 'GDP Per Capita' column are the values: $5,536; $1,482; $1,657; $9,536; 3,456; and $7,118.\">\r\n<thead>\r\n<tr>\r\n<th><\/th>\r\n<th>Population (in millions)<\/th>\r\n<th>GDP Per Capita<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>East Asia and Pacific<\/td>\r\n<td>2,006<\/td>\r\n<td>$5,536<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>South Asia<\/td>\r\n<td>1,671<\/td>\r\n<td>$1,482<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Sub-Saharan Africa<\/td>\r\n<td>936.1<\/td>\r\n<td>$1,657<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Latin America and Caribbean<\/td>\r\n<td>588<\/td>\r\n<td>$9,536<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Middle East and North Africa<\/td>\r\n<td>345.4<\/td>\r\n<td>$3,456<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Europe and Central Asia<\/td>\r\n<td>272.2<\/td>\r\n<td>$7,118<\/td>\r\n<\/tr>\r\n<tr>\r\n<td colspan=\"3\"><strong>Table 2.<\/strong> Regional Comparisons of Nominal GDP per Capita and Population in 2013 (Source: <a href=\"http:\/\/databank.worldbank.org\/data\/home.aspx\">http:\/\/databank.worldbank.org\/data\/home.aspx<\/a>)<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p id=\"Ch32Mod01P05\">Such comparisons between regions are admittedly rough. After all, per capita GDP cannot fully capture the quality of life. Many other factors have a large impact on the standard of living, like health, education, human rights, crime and personal safety, and environmental quality. These measures also reveal very wide differences in the standard of living across the regions of the world. Much of this is correlated with per capita income, but there are exceptions. For example, life expectancy at birth in many low-income regions approximates those who are more affluent. The data also illustrate that nobody can claim to have perfect <strong class=\"no-emphasis\">standards of living<\/strong>. For instance, despite very high income levels, there is still undernourishment in Europe and North America.<\/p>\r\n\r\n<div id=\"Ch32Mod01Link01\" class=\"textbox shaded\">\r\n<p id=\"Ch32Mod01P06\">Economists know that there are many factors that contribute to your standard of living. People in high-income countries may have very little time due to heavy workloads and may feel disconnected from their community. Lower-income countries may be more community centered, but have little in the way of material wealth. It is hard to measure these characteristics of standard of living. The Organization for Economic Co-Operation and Development has developed the \u201cOECD Better Life Index.\u201d Visit this <a href=\"http:\/\/openstaxcollege.org\/l\/standofliving\">website<\/a> to see how countries measure up to your expected standard of living.<\/p>\r\n<span id=\"Ch32Mod01QR01\">\r\n<img class=\"aligncenter\" src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2023\/10\/standofliving.png\" alt=\"QR Code representing a URL\" width=\"130\" \/><\/span>\r\n\r\n<\/div>\r\n<p id=\"Ch32Mod01P07\">The differences in economic statistics and other measures of well-being, substantial though they are, do not fully capture the reasons for the enormous differences between countries. Aside from the <strong class=\"no-emphasis\">neoclassical determinants of growth<\/strong>, four additional determinants are significant in a wide range of statistical studies and are worth mentioning: geography, demography, industrial structure, and institutions.<\/p>\r\n<p id=\"Ch32Mod01P08\"><strong>Geographic and Demographic Differences<\/strong><\/p>\r\n<p id=\"Ch32Mod01P09\">Countries have geographic differences: some have extensive coastlines, some are landlocked. Some have large rivers that have been a path of commerce for centuries, or mountains that have been a barrier to trade. Some have deserts, some have rain forests. These differences create different positive and negative opportunities for commerce, health, and the environment.<\/p>\r\n<p id=\"Ch32Mod01P10\">Countries also have considerable differences in the age distribution of the population. Many high-income nations are approaching a situation by 2020 or so in which the elderly will form a much larger share of the population. Most low-income countries still have a higher proportion of youth and young adults, but by about 2050, the elderly populations in these low-income countries are expected to boom as well. These demographic changes will have considerable impact on the standard of living of the young and the old.<\/p>\r\n<p id=\"Ch32Mod01P11\"><strong>Differences in Industry Structure and Economic Institutions<\/strong><\/p>\r\n<p id=\"Ch32Mod01P12\">Countries have differences in industry structure. In the high-income economies of the world, only about 2% of GDP comes from agriculture; the average for the rest of the world is 12%. Countries have strong differences in degree of urbanization.<\/p>\r\n<p id=\"Ch32Mod01P13\">Countries also have strong differences in economic institutions: some nations have economies that are extremely market-oriented, while other nations have command economies. Some nations are open to international trade, while others use tariffs and import quotas to limit the impact of trade. Some nations are torn by long-standing armed conflicts; other nations are largely at peace. There are differences in political, religious, and social institutions as well.<\/p>\r\n<p id=\"Ch32Mod01P14\">No nation intentionally aims for a low standard of living, high rates of unemployment and inflation, or an unsustainable trade imbalance. However, nations will differ in their priorities and in the situations in which they find themselves, and so their policy choices can reasonably vary, too. The next modules will discuss how nations around the world, from high income to low income, approach the four macroeconomic goals of economic growth, low unemployment, low inflation, and a sustainable balance of trade.<\/p>\r\n\r\n<section id=\"Ch32Mod01_summ\" class=\"summary\">\r\n<h1>Key Concepts and Summary<\/h1>\r\n<p id=\"Ch32Mod01P15\">Macroeconomic policy goals for most countries strive toward low levels of unemployment and inflation, as well as stable trade balances. Countries are analyzed based on their GDP per person and ranked as low-, middle-, and high-income countries. Low-income are those earning less than $1,025 (less than 1%) of global income. They currently have 18.5% of the world population. Middle-income countries are those with per capital income of $1,025\u2013$12,475 (31.1% of global income). They have 69.5% of world population. High-income countries are those with per capita income greater than $12,475 (68.3% of global income). They have 12% of the world\u2019s population. Regional comparisons tend to be inaccurate because even countries within those regions tend to differ from each other.<\/p>\r\n\r\n<\/section><section id=\"Ch32Mod01_sques\" class=\"self-check-questions\">\r\n<div class=\"bcc-box bcc-info\">\r\n<h3>Self-Check Questions<\/h3>\r\n<ol>\r\n \t<li id=\"Ch32Mod01P16\">Using the data provided in <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab03\">Table 3<\/a>, rank the seven regions of the world according to GDP and then according to GDP per capita.\r\n<table id=\"Ch32Mod01Tab03\" summary=\"The table shows the GDP and population of six regions of the world. Column 1 lists the region. Column 2 lists the Population (in millions). Column 3 lists the GDP Per Capita. Column 4 lists the GDP = Population \u00d7 Per Capita GDP (in millions). Row 1: East Asia; 1,992 million; GDP per capita = $5,246; GDP = $10,450,032. Row 2: South Asia; 1,649 million; GDP per capita = $1,388; GDP = $2,288,812. Row 3: Sub-Saharan Africa; 910 million; GDP per capita = $1,415; GDP = $1,287,650. Row 4: Latin America; 581 million; GDP per capita = $9,190; GDP = $5,339,390. Row 5: Middle East and North Africa; 340 million; GDP per capita = $4,535; GDP = $1,541,900. Row 6: Europe and Central Asia; 272 million; GDP per capita = $6,847; GDP = $1,862,384.\">\r\n<thead>\r\n<tr>\r\n<th><\/th>\r\n<th>Population (in millions)<\/th>\r\n<th>GDP Per Capita<\/th>\r\n<th>GDP = Population \u00d7 Per Capita GDP (in millions)<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>East Asia and Pacific<\/td>\r\n<td>2,006<\/td>\r\n<td>$5,536<\/td>\r\n<td>$10,450,032<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>South Asia<\/td>\r\n<td>1,671<\/td>\r\n<td>$1,482<\/td>\r\n<td>$2,288,812<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Sub-Saharan Africa<\/td>\r\n<td>936.1<\/td>\r\n<td>$1,657<\/td>\r\n<td>$1,287,650<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Latin America and Caribbean<\/td>\r\n<td>588<\/td>\r\n<td>$9,536<\/td>\r\n<td>$5,339,390<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Middle East and North Africa<\/td>\r\n<td>345.4<\/td>\r\n<td>$3,456<\/td>\r\n<td>$1,541,900<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Europe and Central Asia<\/td>\r\n<td>272.2<\/td>\r\n<td>$7,118<\/td>\r\n<td>$1,862,384<\/td>\r\n<\/tr>\r\n<tr>\r\n<td colspan=\"4\"><strong>Table 3.<\/strong> GDP and Population of Seven Regions of the World<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/li>\r\n \t<li id=\"Ch32Mod01P19\">What are the drawbacks to analyzing the global economy on a regional basis?<\/li>\r\n<\/ol>\r\n<\/div>\r\n<\/section><section id=\"Ch32Mod01_ctques\" class=\"critical-thinking\"><\/section><section id=\"Ch32Mod01_prob\" class=\"problems\"><\/section><section id=\"Ch32Mod01_ref\" class=\"references\">\r\n<h1>References<\/h1>\r\n<p id=\"Ch32Mod01_ref01\">International Labour Organization. \u201cGlobal Employment Trends for Youth 2013.\u201d http:\/\/www.ilo.org\/global\/research\/global-reports\/global-employment-trends\/youth\/2013\/lang--en\/index.htm<\/p>\r\n<p id=\"Ch32Mod01_ref02\">International Monetary Fund. \u201cWorld Economic and Financial Surveys: World Economic Outlook\u2014Transitions and Tensions.\u201d Last modified October 2013. http:\/\/www.imf.org\/external\/pubs\/ft\/weo\/2013\/02\/pdf\/text.pdf.<\/p>\r\n<p id=\"Ch32Mod01_ref03\">Nobelprize.org. \u201cThe Prize in Economics 1987 - Press Release.\u201d <em>Nobel Media AB 2013<\/em>. Last modified October 21, 1987. http:\/\/www.nobelprize.org\/nobel_prizes\/economic-sciences\/laureates\/1987\/press.html.<\/p>\r\n<p id=\"Ch32Mod01_ref04\">Redvers, Louise. BBC News Business. \u201cYouth unemployment: The big question and South Africa.\u201d Last modified October 31, 2012. http:\/\/www.bbc.co.uk\/news\/business-20125053.<\/p>\r\n<p id=\"Ch32Mod01_ref05\">The World Bank. \u201cThe Complete World Development Report Online.\u201d http:\/\/www.wdronline.worldbank.org\/.<\/p>\r\n<p id=\"Ch32Mod01_ref06\">The World Bank. \u201cWorld DataBank.\u201d http:\/\/databank.worldbank.org\/data\/home.aspx.<\/p>\r\n<p id=\"Ch32Mod01_ref07\">Todaro, Michael P., and Stephen C Smith. <em>Economic Development (11<sup>th<\/sup>Edition)<\/em>. Boston, MA: Addison-Wesley: Pearson, 2011, chap. 1\u20132.<\/p>\r\n\r\n<\/section>\r\n<div class=\"bcc-box bcc-info\">\r\n<h3>Solutions<\/h3>\r\n<strong>Answers to Self-Check Questions<\/strong>\r\n<ol>\r\n \t<li id=\"Ch32Mod01P17\">The answers are shown in the following two tables.\r\n<table id=\"Ch32Mod01Tab04\" summary=\"The table shows the GDP for six regions of the world. Column 1 lists the region. Column 2 lists the GDP (in millions). East Asia; $10,450,032. Latin America; $5,339,390. South Asia; $2,288,812. Europe and Central Asia; $1,862,384. Middle East and North Africa; $1,541,900. Sub-Saharan Africa; $1,287,650.\">\r\n<thead>\r\n<tr>\r\n<th>Region<\/th>\r\n<th>GDP (in millions)<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>East Asia<\/td>\r\n<td>$10,450,032<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Latin America<\/td>\r\n<td>$5,339,390<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>South Asia<\/td>\r\n<td>$2,288,812<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Europe and Central Asia<\/td>\r\n<td>$1,862,384<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Middle East and North Africa<\/td>\r\n<td>$1,541,900<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Sub-Saharan Africa<\/td>\r\n<td>$1,287,650<\/td>\r\n<\/tr>\r\n<tr>\r\n<td colspan=\"2\"><strong>Table 4.<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table id=\"Ch32Mod01Tab05\" summary=\"The table shows the GDP per capita for six regions of the world. Column 1 lists the region. Column 2 lists the GDP per capita (in millions). Europe and Central Asia; $9,190 million. Sub-Saharan Africa; $6,847 million. East Asia; $5,246 million. Middle East and North Africa; $4,535. South Asia; ,415. Latin America; ,388.\">\r\n<thead>\r\n<tr>\r\n<th>Region<\/th>\r\n<th>GDP Per Capita (in millions)<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>East Asia<\/td>\r\n<td>$5,246<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Latin America<\/td>\r\n<td>$1,388<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>South Asia<\/td>\r\n<td>$1,415<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Europe and Central Asia<\/td>\r\n<td>$9,190<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Middle East and North Africa<\/td>\r\n<td>$4,535<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Sub-Saharan Africa<\/td>\r\n<td>$6,847<\/td>\r\n<\/tr>\r\n<tr>\r\n<td colspan=\"2\"><strong>Table 5.<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p id=\"Ch32Mod01P18\">East Asia appears to be the largest economy on GDP basis, but on a per capita basis it drops to third, after Europe and Central Asia and Sub-Saharan Africa.<\/p>\r\n<\/li>\r\n \t<li id=\"Ch32Mod01P20\">A region can have some of high-income countries and some of the low-income countries. Aggregating per capita real GDP will vary widely across countries within a region, so aggregating data for a region has little meaning. For example, if you were to compare per capital real GDP for the United States, Canada, Haiti, and Honduras, it looks much different than if you looked at the same data for North America as a whole. Thus, regional comparisons are broad-based and may not adequately capture an individual country\u2019s economic attributes.<\/li>\r\n<\/ol>\r\n<\/div>","rendered":"<div class=\"bcc-box bcc-highlight\">\n<h3>Learning Objectives<\/h3>\n<p>By the end of this section, you will be able to:<\/p>\n<ul>\n<li>Analyze GDP per capita as a measure of the diversity of international standards of living<\/li>\n<li>Identify what classifies a country as low-income, middle-income, or high-income<\/li>\n<li>Explain how standards of living are influenced by geography, demographics, industry structure, and economic institutions<\/li>\n<\/ul>\n<\/div>\n<p id=\"Ch32Mod01P01\">The national economies that make up the global economy are remarkably diverse. Let us use one key indicator of the standard of living, <strong class=\"no-emphasis\">GDP per capita<\/strong>, to quantify this diversity. You will quickly see that quantifying this diversity is fraught with challenges and limitations. We\u00a0must consider using <strong class=\"no-emphasis\">purchasing power parity<\/strong> or \u201cinternational dollars\u201d to convert average incomes into comparable units. Purchasing power parity\u00a0takes into account the fact that prices of the same good are different across countries.<\/p>\n<p id=\"Ch32Mod01P03\">GDP per capita allows us to rank countries into high-, middle-, or low-income groups. Low-income countries are those with $1,025 per capita GDP per year; middle-income countries have a per capita GDP between $1,025 and $12,475; while high-income countries have over $12,475 per year per capita income. As seen in <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab01\">Table 1<\/a> and <a class=\"autogenerated-content\" href=\"#CNX_Econ_C32_002\">Figure 1<\/a>, high-income countries earn 68% of world income, but represent just 12% of the global population. Low-income countries earn 1% of total world income, but represent 18.5% of global population.<\/p>\n<table id=\"Ch32Mod01Tab01\" summary=\"This table has five columns and four rows. The first row is a header row and it labels each column, 'Ranking based on GDP\/capita,' 'GDP (in billions),' '% of Global GDP,' 'Population,' and '% of Global Population.' Under the 'Ranking based on GDP\/capita' column are the values: Low income ($1,025 or less); Middle income ($1,025 - $12,475); High income (more than $12,475); and Total world income. Under the 'GDP (in billions)' column are the values: $612.7; $23,930; $51,090,000,000; and $75,592,941. Under the '% of Global GDP' column are the values: 0.8%; 31.7%; and 67.5%. Under the 'Population' column are the values: 848,700,000; 4,970,000,000; 1,306,000,000; and 7,162,119,434. Under the '% of Global Population' column are the values: 11.8%; 69.4%; and 18.8%.\">\n<thead>\n<tr>\n<th>Ranking based on GDP\/capita<\/th>\n<th>GDP (in billions)<\/th>\n<th>% of Global GDP<\/th>\n<th>Population<\/th>\n<th>% of Global Population<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Low income ($1,025 or less)<\/td>\n<td>$612.7<\/td>\n<td>0.8%<\/td>\n<td>848,700,000<\/td>\n<td>11.8%<\/td>\n<\/tr>\n<tr>\n<td>Middle income ($1,025 &#8211; $12,475)<\/td>\n<td>$23,930<\/td>\n<td>31.7%<\/td>\n<td>4,970,000,000<\/td>\n<td>69.4%<\/td>\n<\/tr>\n<tr>\n<td>High income (more than $12,475)<\/td>\n<td>$51,090,000,000<\/td>\n<td>67.5%<\/td>\n<td>1,306,000,000<\/td>\n<td>18.8%<\/td>\n<\/tr>\n<tr>\n<td><em>World Total income<\/em><\/td>\n<td><em>$75,592,941<\/em><\/td>\n<td><\/td>\n<td><em>7,162,119,434<\/em><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\"><strong>Table 1.<\/strong> World Income versus Global Population (Source:<a href=\"http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20\">http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20<\/a>)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<figure id=\"CNX_Econ_C32_002\">\n<div class=\"title\">\n<div class=\"title\"><\/div>\n<\/div><figcaption>\n<figure style=\"width: 754px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2017\/08\/CNX_Econv1-2_C32_02.jpg\" alt=\"The pie charts illustrate the inverse proportionality of global GDP by country to population.\" width=\"754\" height=\"349\" \/><figcaption class=\"wp-caption-text\"><strong>Figure 1.<\/strong> Percent of Global GDP and Percent of Population. The pie charts show the GDP (from 2011) for countries categorized into low, middle, or high income. Low-income are those earning less than $1,025 (less than 1% of global income). They represent 18.5% of the world population. Middle-income countries are those with per capita income of $1,025\u2013$12,475 (31.1% of global income). They represent 69.5% of world population. High-income countries have 68.3% of global income and 12% of the world\u2019s population. (Source: <a href=\"http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20\">http:\/\/databank.worldbank.org\/data\/views\/reports\/tableview.aspx?isshared=true&amp;ispopular=series&amp;pid=20<\/a>)<\/figcaption><\/figure>\n<\/figcaption><\/figure>\n<p id=\"Ch32Mod01P04\">An overview of the regional averages of GDP per person for developing countries, measured in comparable international dollars as well as population in 2008 (<a class=\"autogenerated-content\" href=\"#CNX_Econ_C32_003\">Figure 2<\/a>), shows that the differences across these regions are stark. As <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab02\">Table 2<\/a> shows, nominal GDP per capita in 2012 for the 581.4 million people living in Latin America and the Caribbean region was $9,190, which far exceeds that of South Asia and sub-Saharan Africa. In turn, people in the high-income nations of the world, such as those who live in the European Union nations or North America, have a per capita GDP three to four times that of the people of Latin America. To put things in perspective, North America and the European Union have slightly more than 9% of the world\u2019s population, but they produce and consume close to 70% of the world\u2019s GDP.<\/p>\n<figure id=\"CNX_Econ_C32_003\">\n<div class=\"title\">\n<div class=\"title\"><\/div>\n<\/div><figcaption>\n<figure style=\"width: 805px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2023\/10\/CNX_Econv1-2_C32_03.jpg\" alt=\"This image is a colored map of the world with only a few areas having high GDPs.\" width=\"805\" height=\"344\" \/><figcaption class=\"wp-caption-text\"><strong>Figure 2.<\/strong> GDP Per Capita in U.S. Dollars (2008). There is a clear imbalance in the GDP across the world. North America, Australia, and Western Europe have the highest GDPs while large areas of the world have dramatically lower GDPs. (Credit: modification of work by Bsrboy\/Wikimedia Commons)<\/figcaption><\/figure>\n<\/figcaption><\/figure>\n<table id=\"Ch32Mod01Tab02\" summary=\"This table has three columns and six rows. The first row is a header row and it labels the last two columns, 'Population (in millions),' and 'GDP Per Capita.' Under the first unlabeled column are the values: East Asia and Pacific; South Asia; Sub-Saharan Africa; Latin America and Caribbean; Middle East and North Africa; and Europe and Central Asia. Under the 'Population (in millions)' column are the values: 2,006; 1,671; 936.1; 588; 345.4; and 272.2. Under the 'GDP Per Capita' column are the values: $5,536; $1,482; $1,657; $9,536; 3,456; and $7,118.\">\n<thead>\n<tr>\n<th><\/th>\n<th>Population (in millions)<\/th>\n<th>GDP Per Capita<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>East Asia and Pacific<\/td>\n<td>2,006<\/td>\n<td>$5,536<\/td>\n<\/tr>\n<tr>\n<td>South Asia<\/td>\n<td>1,671<\/td>\n<td>$1,482<\/td>\n<\/tr>\n<tr>\n<td>Sub-Saharan Africa<\/td>\n<td>936.1<\/td>\n<td>$1,657<\/td>\n<\/tr>\n<tr>\n<td>Latin America and Caribbean<\/td>\n<td>588<\/td>\n<td>$9,536<\/td>\n<\/tr>\n<tr>\n<td>Middle East and North Africa<\/td>\n<td>345.4<\/td>\n<td>$3,456<\/td>\n<\/tr>\n<tr>\n<td>Europe and Central Asia<\/td>\n<td>272.2<\/td>\n<td>$7,118<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><strong>Table 2.<\/strong> Regional Comparisons of Nominal GDP per Capita and Population in 2013 (Source: <a href=\"http:\/\/databank.worldbank.org\/data\/home.aspx\">http:\/\/databank.worldbank.org\/data\/home.aspx<\/a>)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p id=\"Ch32Mod01P05\">Such comparisons between regions are admittedly rough. After all, per capita GDP cannot fully capture the quality of life. Many other factors have a large impact on the standard of living, like health, education, human rights, crime and personal safety, and environmental quality. These measures also reveal very wide differences in the standard of living across the regions of the world. Much of this is correlated with per capita income, but there are exceptions. For example, life expectancy at birth in many low-income regions approximates those who are more affluent. The data also illustrate that nobody can claim to have perfect <strong class=\"no-emphasis\">standards of living<\/strong>. For instance, despite very high income levels, there is still undernourishment in Europe and North America.<\/p>\n<div id=\"Ch32Mod01Link01\" class=\"textbox shaded\">\n<p id=\"Ch32Mod01P06\">Economists know that there are many factors that contribute to your standard of living. People in high-income countries may have very little time due to heavy workloads and may feel disconnected from their community. Lower-income countries may be more community centered, but have little in the way of material wealth. It is hard to measure these characteristics of standard of living. The Organization for Economic Co-Operation and Development has developed the \u201cOECD Better Life Index.\u201d Visit this <a href=\"http:\/\/openstaxcollege.org\/l\/standofliving\">website<\/a> to see how countries measure up to your expected standard of living.<\/p>\n<p><span id=\"Ch32Mod01QR01\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-content\/uploads\/sites\/157\/2023\/10\/standofliving.png\" alt=\"QR Code representing a URL\" width=\"130\" \/><\/span><\/p>\n<\/div>\n<p id=\"Ch32Mod01P07\">The differences in economic statistics and other measures of well-being, substantial though they are, do not fully capture the reasons for the enormous differences between countries. Aside from the <strong class=\"no-emphasis\">neoclassical determinants of growth<\/strong>, four additional determinants are significant in a wide range of statistical studies and are worth mentioning: geography, demography, industrial structure, and institutions.<\/p>\n<p id=\"Ch32Mod01P08\"><strong>Geographic and Demographic Differences<\/strong><\/p>\n<p id=\"Ch32Mod01P09\">Countries have geographic differences: some have extensive coastlines, some are landlocked. Some have large rivers that have been a path of commerce for centuries, or mountains that have been a barrier to trade. Some have deserts, some have rain forests. These differences create different positive and negative opportunities for commerce, health, and the environment.<\/p>\n<p id=\"Ch32Mod01P10\">Countries also have considerable differences in the age distribution of the population. Many high-income nations are approaching a situation by 2020 or so in which the elderly will form a much larger share of the population. Most low-income countries still have a higher proportion of youth and young adults, but by about 2050, the elderly populations in these low-income countries are expected to boom as well. These demographic changes will have considerable impact on the standard of living of the young and the old.<\/p>\n<p id=\"Ch32Mod01P11\"><strong>Differences in Industry Structure and Economic Institutions<\/strong><\/p>\n<p id=\"Ch32Mod01P12\">Countries have differences in industry structure. In the high-income economies of the world, only about 2% of GDP comes from agriculture; the average for the rest of the world is 12%. Countries have strong differences in degree of urbanization.<\/p>\n<p id=\"Ch32Mod01P13\">Countries also have strong differences in economic institutions: some nations have economies that are extremely market-oriented, while other nations have command economies. Some nations are open to international trade, while others use tariffs and import quotas to limit the impact of trade. Some nations are torn by long-standing armed conflicts; other nations are largely at peace. There are differences in political, religious, and social institutions as well.<\/p>\n<p id=\"Ch32Mod01P14\">No nation intentionally aims for a low standard of living, high rates of unemployment and inflation, or an unsustainable trade imbalance. However, nations will differ in their priorities and in the situations in which they find themselves, and so their policy choices can reasonably vary, too. The next modules will discuss how nations around the world, from high income to low income, approach the four macroeconomic goals of economic growth, low unemployment, low inflation, and a sustainable balance of trade.<\/p>\n<section id=\"Ch32Mod01_summ\" class=\"summary\">\n<h1>Key Concepts and Summary<\/h1>\n<p id=\"Ch32Mod01P15\">Macroeconomic policy goals for most countries strive toward low levels of unemployment and inflation, as well as stable trade balances. Countries are analyzed based on their GDP per person and ranked as low-, middle-, and high-income countries. Low-income are those earning less than $1,025 (less than 1%) of global income. They currently have 18.5% of the world population. Middle-income countries are those with per capital income of $1,025\u2013$12,475 (31.1% of global income). They have 69.5% of world population. High-income countries are those with per capita income greater than $12,475 (68.3% of global income). They have 12% of the world\u2019s population. Regional comparisons tend to be inaccurate because even countries within those regions tend to differ from each other.<\/p>\n<\/section>\n<section id=\"Ch32Mod01_sques\" class=\"self-check-questions\">\n<div class=\"bcc-box bcc-info\">\n<h3>Self-Check Questions<\/h3>\n<ol>\n<li id=\"Ch32Mod01P16\">Using the data provided in <a class=\"autogenerated-content\" href=\"#Ch32Mod01Tab03\">Table 3<\/a>, rank the seven regions of the world according to GDP and then according to GDP per capita.<br \/>\n<table id=\"Ch32Mod01Tab03\" summary=\"The table shows the GDP and population of six regions of the world. Column 1 lists the region. Column 2 lists the Population (in millions). Column 3 lists the GDP Per Capita. Column 4 lists the GDP = Population \u00d7 Per Capita GDP (in millions). Row 1: East Asia; 1,992 million; GDP per capita = $5,246; GDP = $10,450,032. Row 2: South Asia; 1,649 million; GDP per capita = $1,388; GDP = $2,288,812. Row 3: Sub-Saharan Africa; 910 million; GDP per capita = $1,415; GDP = $1,287,650. Row 4: Latin America; 581 million; GDP per capita = $9,190; GDP = $5,339,390. Row 5: Middle East and North Africa; 340 million; GDP per capita = $4,535; GDP = $1,541,900. Row 6: Europe and Central Asia; 272 million; GDP per capita = $6,847; GDP = $1,862,384.\">\n<thead>\n<tr>\n<th><\/th>\n<th>Population (in millions)<\/th>\n<th>GDP Per Capita<\/th>\n<th>GDP = Population \u00d7 Per Capita GDP (in millions)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>East Asia and Pacific<\/td>\n<td>2,006<\/td>\n<td>$5,536<\/td>\n<td>$10,450,032<\/td>\n<\/tr>\n<tr>\n<td>South Asia<\/td>\n<td>1,671<\/td>\n<td>$1,482<\/td>\n<td>$2,288,812<\/td>\n<\/tr>\n<tr>\n<td>Sub-Saharan Africa<\/td>\n<td>936.1<\/td>\n<td>$1,657<\/td>\n<td>$1,287,650<\/td>\n<\/tr>\n<tr>\n<td>Latin America and Caribbean<\/td>\n<td>588<\/td>\n<td>$9,536<\/td>\n<td>$5,339,390<\/td>\n<\/tr>\n<tr>\n<td>Middle East and North Africa<\/td>\n<td>345.4<\/td>\n<td>$3,456<\/td>\n<td>$1,541,900<\/td>\n<\/tr>\n<tr>\n<td>Europe and Central Asia<\/td>\n<td>272.2<\/td>\n<td>$7,118<\/td>\n<td>$1,862,384<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><strong>Table 3.<\/strong> GDP and Population of Seven Regions of the World<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/li>\n<li id=\"Ch32Mod01P19\">What are the drawbacks to analyzing the global economy on a regional basis?<\/li>\n<\/ol>\n<\/div>\n<\/section>\n<section id=\"Ch32Mod01_ctques\" class=\"critical-thinking\"><\/section>\n<section id=\"Ch32Mod01_prob\" class=\"problems\"><\/section>\n<section id=\"Ch32Mod01_ref\" class=\"references\">\n<h1>References<\/h1>\n<p id=\"Ch32Mod01_ref01\">International Labour Organization. \u201cGlobal Employment Trends for Youth 2013.\u201d http:\/\/www.ilo.org\/global\/research\/global-reports\/global-employment-trends\/youth\/2013\/lang&#8211;en\/index.htm<\/p>\n<p id=\"Ch32Mod01_ref02\">International Monetary Fund. \u201cWorld Economic and Financial Surveys: World Economic Outlook\u2014Transitions and Tensions.\u201d Last modified October 2013. http:\/\/www.imf.org\/external\/pubs\/ft\/weo\/2013\/02\/pdf\/text.pdf.<\/p>\n<p id=\"Ch32Mod01_ref03\">Nobelprize.org. \u201cThe Prize in Economics 1987 &#8211; Press Release.\u201d <em>Nobel Media AB 2013<\/em>. Last modified October 21, 1987. http:\/\/www.nobelprize.org\/nobel_prizes\/economic-sciences\/laureates\/1987\/press.html.<\/p>\n<p id=\"Ch32Mod01_ref04\">Redvers, Louise. BBC News Business. \u201cYouth unemployment: The big question and South Africa.\u201d Last modified October 31, 2012. http:\/\/www.bbc.co.uk\/news\/business-20125053.<\/p>\n<p id=\"Ch32Mod01_ref05\">The World Bank. \u201cThe Complete World Development Report Online.\u201d http:\/\/www.wdronline.worldbank.org\/.<\/p>\n<p id=\"Ch32Mod01_ref06\">The World Bank. \u201cWorld DataBank.\u201d http:\/\/databank.worldbank.org\/data\/home.aspx.<\/p>\n<p id=\"Ch32Mod01_ref07\">Todaro, Michael P., and Stephen C Smith. <em>Economic Development (11<sup>th<\/sup>Edition)<\/em>. Boston, MA: Addison-Wesley: Pearson, 2011, chap. 1\u20132.<\/p>\n<\/section>\n<div class=\"bcc-box bcc-info\">\n<h3>Solutions<\/h3>\n<p><strong>Answers to Self-Check Questions<\/strong><\/p>\n<ol>\n<li id=\"Ch32Mod01P17\">The answers are shown in the following two tables.<br \/>\n<table id=\"Ch32Mod01Tab04\" summary=\"The table shows the GDP for six regions of the world. Column 1 lists the region. Column 2 lists the GDP (in millions). East Asia; $10,450,032. Latin America; $5,339,390. South Asia; $2,288,812. Europe and Central Asia; $1,862,384. Middle East and North Africa; $1,541,900. Sub-Saharan Africa; $1,287,650.\">\n<thead>\n<tr>\n<th>Region<\/th>\n<th>GDP (in millions)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>East Asia<\/td>\n<td>$10,450,032<\/td>\n<\/tr>\n<tr>\n<td>Latin America<\/td>\n<td>$5,339,390<\/td>\n<\/tr>\n<tr>\n<td>South Asia<\/td>\n<td>$2,288,812<\/td>\n<\/tr>\n<tr>\n<td>Europe and Central Asia<\/td>\n<td>$1,862,384<\/td>\n<\/tr>\n<tr>\n<td>Middle East and North Africa<\/td>\n<td>$1,541,900<\/td>\n<\/tr>\n<tr>\n<td>Sub-Saharan Africa<\/td>\n<td>$1,287,650<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Table 4.<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table id=\"Ch32Mod01Tab05\" summary=\"The table shows the GDP per capita for six regions of the world. Column 1 lists the region. Column 2 lists the GDP per capita (in millions). Europe and Central Asia; $9,190 million. Sub-Saharan Africa; $6,847 million. East Asia; $5,246 million. Middle East and North Africa; $4,535. South Asia; ,415. Latin America; ,388.\">\n<thead>\n<tr>\n<th>Region<\/th>\n<th>GDP Per Capita (in millions)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>East Asia<\/td>\n<td>$5,246<\/td>\n<\/tr>\n<tr>\n<td>Latin America<\/td>\n<td>$1,388<\/td>\n<\/tr>\n<tr>\n<td>South Asia<\/td>\n<td>$1,415<\/td>\n<\/tr>\n<tr>\n<td>Europe and Central Asia<\/td>\n<td>$9,190<\/td>\n<\/tr>\n<tr>\n<td>Middle East and North Africa<\/td>\n<td>$4,535<\/td>\n<\/tr>\n<tr>\n<td>Sub-Saharan Africa<\/td>\n<td>$6,847<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Table 5.<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p id=\"Ch32Mod01P18\">East Asia appears to be the largest economy on GDP basis, but on a per capita basis it drops to third, after Europe and Central Asia and Sub-Saharan Africa.<\/p>\n<\/li>\n<li id=\"Ch32Mod01P20\">A region can have some of high-income countries and some of the low-income countries. Aggregating per capita real GDP will vary widely across countries within a region, so aggregating data for a region has little meaning. For example, if you were to compare per capital real GDP for the United States, Canada, Haiti, and Honduras, it looks much different than if you looked at the same data for North America as a whole. Thus, regional comparisons are broad-based and may not adequately capture an individual country\u2019s economic attributes.<\/li>\n<\/ol>\n<\/div>\n","protected":false},"author":32,"menu_order":11,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":["openstax"],"pb_section_license":"cc-by"},"chapter-type":[],"contributor":[63],"license":[52],"class_list":["post-1143","chapter","type-chapter","status-publish","hentry","contributor-openstax","license-cc-by"],"part":102,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapters\/1143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":7,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapters\/1143\/revisions"}],"predecessor-version":[{"id":1463,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapters\/1143\/revisions\/1463"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/parts\/102"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapters\/1143\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/wp\/v2\/media?parent=1143"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/pressbooks\/v2\/chapter-type?post=1143"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/wp\/v2\/contributor?post=1143"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accbertelsen\/wp-json\/wp\/v2\/license?post=1143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}