Economic Indicators Such as GNI, and Its Expression in Terms

question 50

True/False

Economic indicators such as GNI, and its expression in terms of per capita, growth rate, and PPP, are not sufficient to develop a clear picture of the overall quality of life in a country.

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Definitions:

Deviations

Differences between observed values and some reference value, often the mean of the dataset.

Standard Deviation

A gauge for assessing the spread or differentiation of values within a group of data points.

Variance

A measure of the spread of a set of values, calculated as the average of the squared deviations from the mean.

Population Mean

The average of all the values in a population, calculated by summing all the values and dividing by the count of values.