Answer to Question #274595 in Macroeconomics for gudwill

Question

Question 4: List and explain various majors (indexes) of human welfare. Compare the Human Development Index (HDI) for major Pacific Island Countries and write critical analysis. ( 5 marks) 

Answer 1

The Human Development Index was introduced in 1991 the United Nations Development Programme to stop this report was discussing the various aspects of human development has been ranking in various countries according to the level of the human development index. Human development index is any two weighted average of life expectancy index education at index and standard of living index.

Life expectancy refers to the life expectancy at birth node age 13 because infant mortality is not entering this index as a separate indicator.

Educational attainment is the combination of adult literacy rate main years of schooling . Now many years of schooling have been replaced by the complaint and government ratio. The weighted assigned to that illiteracy rate is two thirds while that of combined enrolment ratio is a third. Standard of living is presented here by transformation of per capita income. First, per capita income or converted into purchasing power parity. Presently, standard of living is captured by the long transfer form of per capita income in purchasing power parity. Human development index lies between 0 to 1. The country with Human Development Index Value up to 0.449 is considered as low human development economy. Country with Human Development Index value up to 0.799 is considered as the human developed economy and the country with the human development index value above 0.8 is considered as the human development economy.