Choose if the given statement is true/false.

The Human Development Index (HDI) is a measure of economic development and economic welfare.

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True

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Detailed Solution

The given statement is true.
In order to track the three main aspects of human development—access to information, a reasonable standard of living, and a long and healthy life—the Human Development Index (HDI) uses a single index measure. In other words, the Human Development Index is used to assess how much human existence has improved as a result of development. The Human Development Index calculates an overall score between 0 and 1 by looking at three key economic development indicators: life expectancy, educational attainment, and income levels. The life expectancy at birth is used to gauge a person's longevity. The term "life expectancy at birth" refers to the number of years a newborn is anticipated to live. This demonstrated how the Human Development Index included a component for health.

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