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HDI: An abbreviation of the Human Development Index, whichn is a summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living. Longevity is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio; and standard of living is measured by GDP per capita. The Human Development Index (HDI), reported in the Human Development Report of the United Nations, is an indication of where a country is development wise. The index can take value between 0 and 1. Countries with an index over 0.800 are part of the High Human Development group. Between 0.500 and 0.800, countries are part of the Medium Human Development group and below 0.500 they are part of the Low Human Development group.
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INCOME EFFECT The change in quantity demanded that results because a change in the demand price of a good affects real income (that is, the purchasing power of income) even though nominal income remains the same. This is one of two reasons, or effects, underlying the law of demand and the negative slope of the market demand curve. The other is the substitution effect.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for attractive cable television service repair people.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"You are younger today than you will ever be again. Make use of it for the sake of tomorrow. " -- Norman Cousins, editor
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ABE
Association of Business Executives
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