EXERCISE 13.1 THE OECD BETTER LIFE INDEX The Better Life Index, was created by the Organization for Economic Cooperation and Development (OECD). It lets you design a measure of the quality of life in a country by deciding how much weight to put on each component of the index. 1. Should a better life index include the following elements: income, housing, jobs, community, education, environment, civic engagement, health, life satisfaction, safety, and work-life balance? For each of these elements, explain why or why not. 2. Use the Better Life Index tool to create your own better life index for the country where you are living. How does this country score on the topics that are important to you? 3. Rank the countries in the database using your own newly created better life index, and compare it with a ranking based exclusively on income. 4. For both of these indices, choose two countries with contrasting rankings and briefly suggest why this may be the case. C im in co sta ecc per