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In: Economics

The U.S. Central Intelligence Agency maintains an online World Factbook that is a convenient source of...

The U.S. Central Intelligence Agency maintains an online World Factbook that is a convenient source of a wide variety of geographic, social, and economic information. You may look up information by individual country (See drop down menu “Please select a country to view.” Or you may look up information by topic (See "Guide to Country Comparisons" (bottom of page). Directions: Find the following information. Note: You may submit your answers directly into Canvas or you may submit a file

GDP per capita is a relatively narrow measure of a country’s economic well-bring. It does not take into consideration such important factors as income distribution, life expectancy, poverty (and extreme poverty), education, or gender equality. The United Nations Development Program has developed an alternative measure which takes into consideration some of these factors. The Human Development Index (HDI) is a composite measure of: life expectancy at birth, mean years of schooling for adults aged 25 years or more, as well as Gross National Income per capita. List the HDI for the following 8 countries: United States, Canada, Mexico, China, Russia, Iran, India, Afghanistan (See the 2019 ranking here). Country HDI

. List the HDI for the following 8 countries: United States, Canada, Mexico, China, Russia, Iran, India, Afghanistan

Solutions

Expert Solution

Human Development Index is a statistical composition or statistical index of life expectancy, level of education and per capita income.

The development in terms of human well-being was first time introduced by Pakistani Economist Mahbub-Ul-Haq in year 1990 and the focus was made on three major factors they are: Long and healthy life, Knowledge and standard of living. Hence H.D.I is geometric mean of all these three factors. Higher these three factors are higher will be the value of H.D.I. Each year H.D.I report is prepared by U.N.D.P.

The ranking of H.D.I is based on four tier:

  1. Very High: Scores above 0.808
  2. High: Between 0.700 up to 0.807
  3. Medium: Between 0.556 up to 0.699
  4. Low: Below 0.555

The HDI for the following eight countries are:

  1. United States: 0.920 (Ranks 28)
  2. Canada: 0.922 (Rank 17)
  3. Mexico: 0.767(Rank 77)
  4. China:0.758(Rank 64)
  5. Russia: 0.824 (Rank 41)
  6. Iran: 0.797 (Rank 47)
  7. India : 0.647 (Rank 99)
  8. Afghanistan: 0.496 (Rank 170)

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