ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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HDI
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Where a country is located on the Brandt Line
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GII
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MDC/LDC
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Detailed explanation-1: -The Human Development Index (HDI) measures each country’s social and economic development by focusing on the following four factors: mean years of schooling, expected years of schooling, life expectancy at birth, and gross national income (GNI) per capita.
Detailed explanation-2: -The purpose of calculating the HDI is to rank global economies by the level of HDI and to compare such a ranking with those that are exclusively based on the GDP per capita (PPP US $).
Detailed explanation-3: -The HDI is calculated as the geometric mean (equally-weighted) of life expectancy, education, and GNI per capita, as follows: The education dimension is the arithmetic mean of the two education indices (mean years of schooling and expected years of schooling).
Detailed explanation-4: -The Human Development Index (HDI) is a composite measure ranging from 0 to 1 that includes life expectancy, education (literacy rate), and standards of living (GDP per capita).