Consider the following statements 1 HDI ranks countries in four dimension of human de...........

Economic and Social Issues Growth and development

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Consider the following statements:

1. HDI ranks countries in four dimension of human development

2. Arithmetic mean of parameters is used to arrive at one composite value

Which of the gien statements is/are correct?

1 only

2 only

Both 1 & 2

Neither 1 nor 2

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Explanation:

Both the statements are incorrect.
The 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.
he HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI.
The scores for the three HDI dimension indices are then aggregated into a composite index using geometric mean.