A country has a Life expectancy at birth (years) 70.7, expected years of schooling (years) 12.5, mean years of schooling (years) 9.6, and gross national income per capita $32,465. The maximum for expected years of schooling, 18, the maximum per capital income is set at $75,000, and the benchmark life expectancy at birth of 85 years. Compute the new HDI for this economy. [Show all your steps].

A country has a Life expectancy at birth (years) 70.7, expected years of schooling (years) 12.5, mean years of schooling (years) 9.6, and gross national income per capita $32,465. The maximum for expected years of schooling, 18, the maximum per capital income is set at $75,000, and the benchmark life expectancy at birth of 85 years. Compute the new HDI for this economy. [Show all your steps].

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.3P

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