how do human development index (hdi) and gross domestic product (gdp) compare in what they measure?\nhdi and…

how do human development index (hdi) and gross domestic product (gdp) compare in what they measure?\nhdi and gdp both measure economic development only.\nhdi measures human development, while gdp measures economic development\nhdi and gdp both measure social development only.\nhdi measures social development, while gdp measures economic development

how do human development index (hdi) and gross domestic product (gdp) compare in what they measure?\nhdi and gdp both measure economic development only.\nhdi measures human development, while gdp measures economic development\nhdi and gdp both measure social development only.\nhdi measures social development, while gdp measures economic development

Answer

Brief Explanations:

The Human Development Index (HDI) is a composite statistic that measures key dimensions of human development: a long and healthy life (life expectancy), access to knowledge (education), and a decent standard of living (per - capita income). It is a measure of human development which encompasses social and economic aspects in a more holistic way.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. It is primarily a measure of economic development as it focuses on the economic output of a nation.

Now let's analyze each option:

  • Option 1: HDI is not just about economic development. It includes social aspects like education and life expectancy. So, this option is incorrect.
  • Option 2: HDI measures human development (which has economic, social, and health - related components) and GDP measures economic development. This option is correct.
  • Option 3: GDP is not a measure of social development. It is about economic output. So, this option is incorrect.
  • Option 4: HDI is not just about social development. It also has an economic component (through the income measure in its calculation). So, this option is incorrect.

Answer:

HDI measures human development, while GDP measures economic development.