5. The United Nations Human Development Index (HDI) uses information about a country's life expectancy at birth (health), expected years of schooling and mean years of schooling (education), and Gross National Income per capita (standard of living) to create a measure that ranges from 1 (very high) to 0 (very low). For 2017, the United States had a value of 0.924, compared to 0.926 for Canada and 0.922 for the United Kingdom - very similar values, although not the highest of all countries. Suppose a developing country (such as Eritrea with a value of 0.440 or Haiti with a value of 0.498) asks for your advice on which country it should try to emulate in order to increase its level of development and economic growth. Which of the three countries above would you choose? Explain what additional information about each country would be important to making this assessment.
5. The United Nations Human Development Index (HDI) uses information about a country's life expectancy at birth (health), expected years of schooling and mean years of schooling (education), and Gross National Income per capita (standard of living) to create a measure that ranges from 1 (very high) to 0 (very low). For 2017, the United States had a value of 0.924, compared to 0.926 for Canada and 0.922 for the United Kingdom - very similar values, although not the highest of all countries. Suppose a developing country (such as Eritrea with a value of 0.440 or Haiti with a value of 0.498) asks for your advice on which country it should try to emulate in order to increase its level of development and economic growth. Which of the three countries above would you choose? Explain what additional information about each country would be important to making this assessment.
Chapter1: Making Economics Decisions
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Transcribed Image Text:5. The United Nations Human Development Index (HDI) uses information about a country's
life expectancy at birth (health), expected years of schooling and mean years of schooling
(education), and Gross National Income per capita (standard of living) to create a measure
that ranges from 1 (very high) to 0 (very low). For 2017, the United States had a value of
0.924, compared to 0.926 for Canada and 0.922 for the United Kingdom - very similar
values, although not the highest of all countries.
Suppose a developing country (such as Eritrea with a value of 0.440 or Haiti with a value
of 0.498) asks for your advice on which country it should try to emulate in order to increase
its level of development and economic growth. Which of the three countries above would
you choose? Explain what additional information about each country would be important
to making this assessment.
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