Question

In 2014, the United Nations ranked Norway first on the Human Development Index 009-a ranking of the quality of M different in many countries. Yet Norway was not akad first in terms of real per capita GDP. Explain how the woman O A HOI ses nominal GOP values, but not real GDP. OB HDI formula doesn't take into account real per capita GOP factor OCHDI formula includes not only per capita GOP, but also non economic factors. O D. This could be explained by the different ways of calculation of national income-expenditure and income approaches

Answer 1

Correct answer is option C.

HDI formula includes not only per capita GDP, but also non-economic factors as HDI is calculated by taking into account three essential components viz..the quality of life i.e. life expectancy, quality of education, and standard of living i.e. Real GDP per capita. Since, components like education, health etc are classified as non-economic factors thus, we can say that Correct Option in C.