The correct option is 1 and 3 only.
Explanation
The Human Development Index (HDI) is a composite index used to measure average achievement in three key dimensions of human development: a long and healthy life, being knowledgeable, and having a decent standard of living. The dimension of 'Access to Resources' corresponds to the standard of living.
Statement-wise Analysis
- Statement 1 is Correct: The standard of living, or access to resources, is measured by the Gross National Income (GNI) per capita. This indicator reflects the aggregate income of an economy generated by its production and its ownership of factors of production, less the incomes paid for the use of factors of production owned by the rest of the world.
- Statement 2 is Incorrect: The GNI per capita is calculated based on Purchasing Power Parity (PPP), not nominal exchange rates. PPP rates adjust for differences in price levels across countries, allowing for a more accurate comparison of the real standard of living.
- Statement 3 is Correct: To ensure comparability across nations, the GNI per capita is expressed in US dollars (specifically, constant PPP US dollars).
Key Takeaway
Key Takeaway: In the Human Development Index (HDI), the 'Access to Resources' dimension is measured using GNI per capita adjusted for Purchasing Power Parity (PPP) in US dollars.