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Index numbers are used especially to compare business activity, the cost of living, and employment. They enable economists to reduce unwieldy business data into easily understood terms. In contrast to a cost-of-living index based on the true but unknown utility function, a superlative index number is an index number that can be calculated. [1]
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "new economic sociology".
A modified version of the paper was presented at the Indian Council for Research on International Economic Relations in New Delhi on February 4, 2004. [ 2 ] Economists working for international organizations like the World Bank use the Poverty-Growth-Inequality Triangle to create poverty reduction strategies that include both steps to reduce ...
The Gini index is also widely used within the World Bank. [11] It is an accurate and reliable index for measuring income distribution on a country by country level. The Gini index measurements go from 0 to 1 for 1 being perfect inequality and 0 being perfect equality. The world Gini index is measured at 0.52 as of 2016. [12]
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.
Below is a list of countries by their Gender Development Index, based on data collected in 2018, and published in 2019. [3] Countries are grouped into five groups based on the absolute deviation from gender parity in HDI values, from 1 (closest to gender parity) to 5 (furthest from gender parity).
GDP and other macro-economic indicators - provided by the System of National Accounts (SNA). Enlarged GDP measures - include costs such as expense of environmental degradation, resource depletion or higher income inequality. They provide a more accurate indication of a country's actual economic, environmental and social performance.