Economic Development Indices Questions
The Economic Freedom Index (EFI) is a measure that assesses the level of economic freedom within a country. It is calculated based on various indicators such as the rule of law, property rights, government size, regulatory efficiency, and market openness. The EFI provides a numerical score to each country, indicating the extent to which individuals and businesses can operate freely in the economy. A higher EFI score suggests a higher level of economic freedom, which is often associated with greater economic growth, prosperity, and overall development.