Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
Question
Book Icon
Chapter 21, Problem 22APA

(a)

To determine

Explain why the human development index (HDI) is better than real GDP as a measure of economic welfare.

(b)

To determine

Identify the items that are part of real GDP as well as HDI and the items are not in the real GDP.

(c)

To determine

The expansion of HDI.

(d)

To determine

Determine the items that are included in a comprehensive measure on economic welfare.

Blurred answer
Students have asked these similar questions
Go online and find the current GDP for countries, which are the largest countries in the world in terms of GDP. Find a PPP GDP, which are the largest countries now? Why the difference?
Why is better to use HDI rather than GDP to look at the development of a country?
What is the size of the underground economy as a percentage of GDP?
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Macroeconomics
Economics
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning