Economic Development Indices Questions
The Human Development Index (HDI) takes into account three main factors in its calculation:
1. Life expectancy at birth: This factor measures the average number of years a person is expected to live from birth. It reflects the overall health and well-being of a population.
2. Education: The HDI considers two components of education - mean years of schooling and expected years of schooling. Mean years of schooling represents the average number of years of education received by adults in a country, while expected years of schooling measures the number of years a child is expected to attend school.
3. Gross national income (GNI) per capita: This factor reflects the economic well-being of a country's citizens. GNI per capita takes into account the total income generated within a country, including income from abroad, and divides it by the population.
By combining these three factors, the HDI provides a comprehensive measure of a country's overall development and standard of living.