measures of development

Question 1

single indicators

Answer 1

one thing in isolation
-gdp/capita: average income. (GNI/capita due to FDI and many workers moving out or PPP: compare purchasing power)
-health measures: life expectancy/infant mortality
-education measures:literacy/enrolment

Question 2

human development index

Answer 2

-0 is low, 1 is perfect
-longevity (life expectancy), knowledge (adult literacy/student enrolment), standards of living (GDP/capita or PPP)
-broad, focus on d. countries,
-distribution, freedom and choice

Question 3

Lorenz curve/gini coefficient

Answer 3

-measure of income inequality
-gini coefficent: 0 is perfect, 1 is not
-g: a/a+b
-cumulative percent of income and cumulative percent of pop