Question

What difficulties are encountered in trying to measure economic development, international poverty and inequality, and how have international institutions sought to overcome them?

Answer 1

Some of the difficulties likehigh frequency povrty measures,inadequate data regarding the population, black market details, continuous change in the value of assets, volatality of currency etc made it a real tough time for the international organiations to measure economic development, international poverty and inequality on the whole. However, various international institutions got to overcome these difficulties by establishing relative indices measure with the aid of the previous statistics avaialble with which they could achieve results that got more accuracy than before on the whole.