Question

European countries have high ranking in PPP and Human development index Explain. (Write answer in 12 to 15 lines)

Answer 1

The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, ... A country scores a higher HDI when the lifespan is higher, the education level is The Human Poverty Index (HPI) was an indication of the standard of living in a country, developed by the United Nations (UN) to complement the Human Development Index (HDI) and was first reported as part of the index for high- surviving to age 60 functional literacy skills income poverty line (50% of median rate (12 months or more) income OECD adjusted disposable household income) countries (HPI-2). Gender-related. Norway is highly ranked on the list of the highly developed countries in the world by the Human Development Index (HDI) with the highest score of 0.944. Norway comes as the 4th country in the world by GDP (PPP) per ...

Answer 2

Explanation:

Purchasing power parity:

One popular macroeconomic analysis metric to compare economic productivity and standards of living between countries is purchasing power parity (PPP). PPP is an economic theory that compares different countries' currencies through a "basket of goods" approach.

According to this concept, two currencies are in equilibrium—known as the currencies being at par—when a basket of goods is priced the same in both countries, taking into account the exchange rates.

KEY TAKEAWAYS

Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts that compares different countries' currencies through a "basket of goods" approach.

Purchasing power parity (PPP) allows for economists to compare economic productivity and standards of living between countries.

Some countries adjust their gross domestic product (GDP) figures to reflect PPP.

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