Adjustments are made for differing relative prices across countries to that living
standards may be measured more accurately.
What are the three main indicators that make up the Human Development
If countries are first ranked by level of real GDP per capita, and then by the
value of the Human Development Index, would you expect the ranking of
countries to be similar or different.
Comment on the following statement: The level and growth rate of real GDP per
capita can be a misleading indicator of development. At the same time, countries
that experience sustained increases in real GDP per capita over time will tend to
be more developed.