Question

HDI ranking of countries prepared by UNDP, is largely based on which economic concept?

Answer 1

Answer:

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♦ HDI ranking of countries prepared by UNDP, is largely based on which economic concept?

✒ The standard of living dimension is measured by gross national income per capita. The HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI. The scores for the three HDI dimension indices are then aggregated into a composite index using geometric mean.

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Explanation:

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