Tag: economics

Living standard is assessed by Gross National Income per capita, which forms the GNI index. It is calculated into the Human Development Index.GDP is considered a means for human development. However, it is not an end. Moreover, in HDI, GDP per capita is calculated as PPP in US Dollars.

Thus, the correct answer is A.

India ranks 134 out of 187 countries in terms of HDI index per HDR Report 2011. HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

The Human Development Index is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.

Human Development Index (HDI) is important as it emphasizes that people and their capabilities should be the ultimate criteria in order to assess the development of a country and not only the economic growth. It uses the composite index of life expectancy, education, and per capita income indicators to measure the human well-being.

Thus, the correct answer is A.

Human development is defined as the process of enlarging people's freedoms and opportunities and improving their well-being. Human development is about the real freedom ordinary people have to decide who to be, what to do, and how to live. The  Human development concept was developed by economist Mahbub ul Haq.

The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
A country scores a higher HDI when the lifespan is higher, education level is higher, and the gross national income is higher.
It was developed by Pakistani economistMahbub ul Haq and Indian economist Amartya Sen and was further used to measure a country's development by the United Nations Development Programme (UNDP)'s Human Development Report Office.^[

HDI Index does not includes health as a component. HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

Norway ranks first in terms of HDI index as per HDR 2011.HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.

In order to measure the inequalities of income and wealth GINI index is used. GINI coefficient or GINI Index was developed by an Italian scientist, Corrado Gini in the year of 1912. GINI Index can be defined as a method of statistical dispersion which is used to measure inequalities of income and wealth.

Physical endurance is not a dimension of Human Development Index. HDI stands for Human Development Index. It can be defined as a statistic composite index of human development indicators, like, life expectancy, education, per capita income, etc. HDI helps to rank countries.