Economic Development Indices Questions
The IEF (Index of Economic Freedom) is calculated by evaluating a country's economic policies and institutions based on 12 quantitative and qualitative factors. These factors include property rights, government integrity, judicial effectiveness, tax burden, government spending, fiscal health, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. Each factor is assigned a score, and the overall IEF score is calculated by averaging these scores.