The Human Development Index Is Scaled from 0 to 1

question 85

Multiple Choice

The Human Development Index is scaled from 0 to 1.Countries scoring less than _______ are classified as low human development (the quality of life is poor) .

• A) .25
• B) .50
• C) .75
• D) .33
• E) .65

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Definitions:

Well Off

A term used to describe individuals or households that are financially comfortable or affluent.

Cost of Living

The total amount of money required to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time.

Utility Function

An equation representing a consumer's prioritization of various bundles of goods, thereby indicating their perceived benefit or welfare from those choices.

Consumption

The action of using up a resource or goods, often associated with the demand side of economics.