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In: Economics

Find data for a given year on income per capita and income inequality for the following...

Find data for a given year on income per capita and income inequality for the following three groups of countries; (a) high human development, (b) medium human development and (c) low human development. Include about 8-10 countries in each group. Plot the data on the relationship between income per capita and inequality for each group. Is there any evidence of a Kuznets relationship? Explain. Please make sure to upload your graph

Solutions

Expert Solution

A) High Human Development

A country scores a higher HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. ... The 2010 Human Development Report introduced an Inequality-adjusted Human Development Index (IHDI).

B) Medium Human Development

The Human Development Index (HDI), as one of the more complex composite indicators of the level of human potential and quality of life, is a combination of three dimensions (indicators, factors): life expectancy at birth, the middle number of years of education and the expected number of years of schooling combined into a single education index and economic benefits expressed by production, or GDP (gross domestic product) according to purchasing power (PPP US $).

C) Low Human Development

  

Inequality continues to blight the lives of millions, according to the 2018 United Nations Human Development Index (HDI), and it’s holding back development.

The HDI ranks 189 countries according to their performance against a set of criteria that align to health, education and income – or a long and healthy life, access to knowledge, and a decent standard of living, as the UN terms it.

Rahul Sunny answered 1 year ago
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