Answer to Question #123563 in Economics for Dalia Mahata

Question

1. Write a critical note on interative average corealation method (IACM) principle of attaching weights in the construction of the human development index?
2. Write a critical note on principle component analysis (PCA) principle of attaching weights in the construction of the human development index?
3. Prepare a list of indicators you think necessary for measuring human development of a country and arrange them in decreasing order of importance. Give arguments for your arrangement.
4. Write two indicators of development and examine the nature of substitutability and complementarity between them. On that basis try to draw a set of iso- development index curves and explain their nature?

Answer 1

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