Economic Development Indices Questions
The Genuine Progress Indicator (GPI) is calculated by taking into account various economic, social, and environmental factors to provide a more comprehensive measure of economic development and well-being. It considers factors such as income distribution, household production, environmental quality, and social factors like crime rates and volunteer work. The GPI subtracts negative factors such as pollution and crime, while adding positive factors like volunteer work and household production, to provide a more accurate representation of economic progress and overall well-being.