ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC DEVELOPMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The UN looks at the degree to which a country provides its people with the ability to have access to knowledge. Which of the following do they consider when calculating HDI?

A	Average number of years spent in school
B	Test scores
C	Teacher/pupil ratio
D	Literacy rate
E	Expected years of schooling

Explanation:

Detailed explanation-1: -The Human Development Index (HDI) provides a single index measure to capture three key dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living. The HDI utilizes four key metrics: life expectancy at birth – to assess a long and healthy life.

Detailed explanation-2: -The HDI considers three indicators of human development, namely, life expectancy, education, and per capita income.

Detailed explanation-3: -How is it defined? 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-4: -Original HDI = 1/3(Life Expectancy)+1/3(Education)+1/3(Per-Capita Income) • Education included adult literacy rate and school enrollments. Original HDI used arithmetic mean to calculate HDI. Hybrid HDI uses geometric mean rather than arithmetic mean in calculating HDI.

There is 1 question to complete.