Economic Development Indices Questions
The Economic Freedom Index (EFI) is calculated by evaluating various factors related to economic freedom in a country. These factors typically include indicators such as the rule of law, government size, regulatory efficiency, open markets, and the protection of property rights. Each indicator is assigned a score, and these scores are then combined to calculate the overall EFI score for a country. The higher the EFI score, the greater the level of economic freedom in that country.