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Answer:
When a country has a higher ranking in the Human Development Index (HDI) compared to its Gross National Income (GNI) per capita ranking, it suggests that the government is more efficiently converting its economic resources into overall well-being for its citizens. A higher HDI ranking indicates factors like education, healthcare, and standard of living are relatively better compared to countries with lower HDI rankings.
Explanation:
Countries with higher HDI rankings tend to have a more educated and healthier workforce, leading to increased productivity and innovation. This, in turn, can contribute to faster economic growth as the population is better equipped to participate in and contribute to economic activities. Additionally, a higher HDI ranking often signifies better social infrastructure and support systems, which can enhance the overall quality of life and create a more stable environment for economic development.
On the other hand, a country with a lower HDI ranking, even if it has a similar GNI per capita, may face challenges related to inadequate education, healthcare, and living standards. These factors can hinder the country's growth potential as the population may not be fully able to participate in economic activities or contribute effectively to the economy.
Therefore, a country with a higher HDI ranking relative to its GNI per capita ranking is likely to experience faster economic growth due to the positive impact of improved human development indicators on productivity, innovation, and overall well-being.