ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross Domestic Product Per Capita (GDP Per Capita)
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Standard of Living Index
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Human Development Index (HDI)
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Literacy Rate
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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 HDI is a summary composite measure of a country’s average achievements in three basic aspects of human development: health, knowledge and standard of living.
Detailed explanation-3: -The HDI considers three indicators of human development, namely, life expectancy, education, and per capita income.
Detailed explanation-4: -The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.
Detailed explanation-5: -The HDI falls both directly as a result of a lower life expectancy, and indirectly as a result of the fact that individuals who did not manage to arrive alive to birth enjoy neither schooling nor income.