Table of Contents
What is the Full Form of HDI?
The full form of HDI is Human Development Index.
Full Form of HDI in Economics
Human Development Index (HDI) is a composite statistic of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
How is HDI Calculated?
The Human Development Index (HDI) is a composite statistic used to rank countries by their level of human development. It is calculated by using data on life expectancy, education, and per capita income.
The life expectancy component of the HDI is calculated by using the average number of years a person can expect to live. The education component of the HDI is calculated by using the average number of years of schooling a person can expect to receive. The per capita income component of the HDI is calculated by using the average income of a country’s citizens.
The HDI is then calculated by using a formula that combines these three components. The formula is as follows:
HDI = Life Expectancy Index
Education Index
Income Index
The life expectancy index is calculated by using the average number of years a person can expect to live. The education index is calculated by using the average number of years of schooling a person can expect to receive. The income index is calculated by using the average income of a country’s citizens.
The HDI is then calculated by using a formula that combines these three components. The formula is as follows:
HDI = (Life Expectancy Index
Education Index
Income Index)
The HDI is a number between 0 and 1. A country with a HDI of 0 is considered to be in a state of human deprivation. A country with a HDI of 1 is considered to be in a state of human development.
