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1. ()Mention any three indicators of economic development that are included in the calculation of human...

1. ()Mention any three indicators of economic development that are included in the
calculation of human development index(HDI)
(i)why is HDI considered a better index of economic development than per capita real GDP

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Answer #1

a) Three indicators of economic development used in the calculation of HDI are:

Life expectancy

Education

Per capita income

b) HDI is better than Per capita real GDP because HDI shows a broader picture of the economy by including factors such as education and life expectancy so it is not only showing how much the Per capita GDP is but also the level of education that the people receives,their life expectancy so based on this,a country with higher lifespan of its citizens,per capita income and a better education level will be ranked higher.The real per capita GDP only gives the real output and does not include the development in the level of its citizens so the activities which actually lowers human development might get included in it.

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