Question: The United Nations Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity

The United Nations’ Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education.
a. Explain why the HDI might be better than real GDP as a measure of economic welfare.
b. Which items in the HDI are part of real GDP and which items are not in real GDP?
c. Do you think the HDI should be expanded to include items such as pollution, resource depletion, and political freedom? Explain.
d. What other influences on economic welfare should be included in a comprehensive measure?

Step by Step Solution

★★★★★

3.43 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a The HDI might be a better measure of economic welfare because it includes some important factors t... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

698-B-E-M-E (4952).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

GDP has proved useful in tracking both short-term fluctuations and long-run growth. Which isnt to say GDP doesnt miss some things. Amartya Sen, at Harvard, helped create the United Nations Human...

Explain the value of the Human Development Index (HDI) in measuring a nations level of development.

The Gross national income (GNI) per capita comes much closer to Amartya Sen's conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).

The United Nations' Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education. a. Explain why the HDI might be...

1.22 The United Nations Human Development Index (HDI) is based on real GDP per person, life expectancy at birth and indicators of the quality and quantity of education. a Explain why the HDI might be...

The United Nations Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education. a. Explain why the HDI might be...

17. The United Nations Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education. a. Explain why the HDI might...

The United Nations Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education. a. Explain why the HDI might be...

The United Nations Human Development Index (HDI) is based on GDP per person, life expectancy at birth, and indicators of the quality and quantity of education. a. Explain why the HDI might be better...

Please help me understand number 5. Which country would you choose to emulate and explain what additional information about each country would be important in making this assessment. ECO 2013...

Lemur Companys $10 par value common stock currently sells at $100 per share. Lemur has retained earnings of $100,000; once this is exhausted, Lemur will raise any more necessary equity capital...

Cameron, Inc. manufactures model airplane kits. Direct materials are 3 ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not...

Maria is single and has an AGI of $ 2 0 0 , 0 0 0 . She would like to donate $ 1 5 0 , 0 0 0 to the UGA VITA program to expand its reach and support of both students and clients. She has Amazon stock...

Which of the following statements is true? a. The national debt as a percentage of GDP is greater today than during any other period in our nations history. b. A sizeable external national debt will...

Explain the difference between the AE curve and the AD curve.

Explain why induced consumption expenditure differs from autonomous consumption expenditure. Why isnt all consumption expenditure induced expenditure?

If the consumption function shifts upward, what happens to the saving function? Why?

des Compute yield-to-maturity for the following zero-coupon bonds: 1-year zero-coupon bond, traded currently at 990 dollars 2-years zero-coupon bond, traded currently at 955 dollars 3-years...

Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter. If the required...

Can you please explain this process? I'm stuck on calculating the carrying costs of recievables and need help with calculating the incremental after tax cost associated the change in credit terms. I...