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How can an economic development be measured?
The UN has developed an extensively accepted set of indices to measure development in opposition to a mix of composite (element or compound) indicators:
• Human Development Index (HDI): It measures a country is average achievements into three fundamental dimensions of human development: educational attainment, life expectancy and adjusted real income (PPP$ per person).
• Human Poverty Index (HPI): It measures deprivation into fundamental human development by using % of people expected to die before age forty, percent of illiterate adult %, of people without access to health services as well as safe water and the percent of underweight children in five like indicators.
• Development diamonds demonstrate four key indicators into a country compared along with its income-group average that is access to safe water, gross primary enrolment, GNP per capita and average life expectancy for 2015.
what is national income
Inflation in Sweden Figure Inflation in Sweden 1830 - 2010. Source: SCB. There are four aspects which are interesting when we look at inflation data for Sweden
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Over the last year both the supply and demand for oil in the US has gone up. What might have caused this and what happened to the price and quantity of oil?
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Consider the following: An economy is found to have output, y = 20000 Also assume that the government runs a deficit where tax revenue T= 4000 and government expenditures G=5000
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