Economic Development Indices Questions
The PI (or Prosperity Index) is calculated by combining various economic and social indicators to measure the overall level of prosperity and economic development in a country or region. These indicators typically include factors such as GDP per capita, life expectancy, education levels, access to healthcare, infrastructure development, and governance. The specific formula for calculating the PI may vary depending on the organization or institution conducting the analysis, but it generally involves assigning weights to each indicator and aggregating the scores to obtain a composite index value.