Outline how ONE (1) measure that the Human Development Index is used to promote: i. economic growth ii. economic development B. Assess the use of Human Development Index as an alternate measure of Economic Development.

Outline how ONE (1) measure that the Human Development Index is used to promote: i. economic growth ii. economic development B. Assess the use of Human Development Index as an alternate measure of Economic Development.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 1TY

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Question

A. Outline how ONE (1) measure that the Human Development Index is used to promote:
i. economic growth
ii. economic development
B. Assess the use of Human Development Index as an alternate measure of Economic
Development.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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