Econ: Human Development Index


The United Nations developed what is known as the Human Development Index, The HDI covers three areas: life expectancy, education, and GDP per capita and offers a broader measure of the standard of living than GDP per capita alone. The Human Development Index was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone. The Human Development Index is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI does not reflect on inequalities, poverty, human security, empowerment, etc.

Complete Human Development Index on page 20 #2 & 3

gdp-growth-and-investment-rate
The term investment is often used in a variety of ways. Investment represents actual materials, research and development purchased and used today to produce goods and services in the future. For our purposes here, we are referring to the part of investment that is reflected in GDP, specifically the spending on new equipment, software, and structures that add to a country’s stock or amount of capital. Gross Domestic Product can be separated into four components that include consumer spending, business investment spending, government spending, and net exports. (GDP = C + I + G + X) The “I” represents the amount spent on new equipment and factories, which adds to the total amount of the capital factor of production. Investment is a key factor in growing GDP.

Complete Investment Rates and GDP per Capita pp.21-22


Economic advisor teams will utilize information gathered to determine the current standard of living of the inhabitants of their country and how they intend to improve those conditions.

Complete Standard of Living Analysis page 23 #1-8

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