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According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum?
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According to World Bank rating which of the following countries are ca...
Low Income Countries According to World Bank Rating
According to the World Bank rating, a low-income country is defined as a nation that has a per capita gross national income (GNI) of less than $1,036 per annum. This figure is calculated using the Atlas method, which takes into account purchasing power parity (PPP) adjustments.
Explanation
The World Bank classifies countries into four categories based on their level of income. These categories are:
1. Low-income countries: These are countries that have a per capita GNI of less than $1,036 per annum.
2. Lower-middle-income countries: These are countries that have a per capita GNI between $1,036 and $4,045 per annum.
3. Upper-middle-income countries: These are countries that have a per capita GNI between $4,046 and $12,535 per annum.
4. High-income countries: These are countries that have a per capita GNI of more than $12,535 per annum.
The classification of countries based on income level is important for several reasons. Firstly, it helps policymakers to identify countries that are in need of assistance and support. Secondly, it helps to guide foreign aid and development policies. Finally, it serves as a useful tool for researchers and analysts to compare economic performance across different countries.
Conclusion
In conclusion, low-income countries are those nations that have a per capita GNI of less than $1,036 per annum. This classification is important for identifying countries that require support and assistance, guiding foreign aid and development policies, and facilitating cross-country comparisons of economic performance.
According to the World Bank rating, a low-income country is defined as a nation that has a per capita gross national income (GNI) of less than $1,036 per annum. This figure is calculated using the Atlas method, which takes into account purchasing power parity (PPP) adjustments.
Explanation
The World Bank classifies countries into four categories based on their level of income. These categories are:
1. Low-income countries: These are countries that have a per capita GNI of less than $1,036 per annum.
2. Lower-middle-income countries: These are countries that have a per capita GNI between $1,036 and $4,045 per annum.
3. Upper-middle-income countries: These are countries that have a per capita GNI between $4,046 and $12,535 per annum.
4. High-income countries: These are countries that have a per capita GNI of more than $12,535 per annum.
The classification of countries based on income level is important for several reasons. Firstly, it helps policymakers to identify countries that are in need of assistance and support. Secondly, it helps to guide foreign aid and development policies. Finally, it serves as a useful tool for researchers and analysts to compare economic performance across different countries.
Conclusion
In conclusion, low-income countries are those nations that have a per capita GNI of less than $1,036 per annum. This classification is important for identifying countries that require support and assistance, guiding foreign aid and development policies, and facilitating cross-country comparisons of economic performance.
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According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum?
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According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum?.
According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to World Bank rating which of the following countries are called low income countries (a) countries having per capita income less than 37000 per annum (b)countries having per capita income less than 47000 per annum (c)countries having per capita income less than 57000 per annum (d)countries having per capita income less than67000 per annum?.
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