Question 11 of 31beginner🧠 RememberVery Short2 marks

From the text, find out the per capita income level of about 10-15 low-income countries as per World Development Reports.

Correct Answer

According to the World Development Reports, countries with a per capita income of about **US2400orless∗∗perannumareclassifiedaslow−incomecountries.Thisspecificincomethresholdisbasedonthedatafortheyear2023.ThiscriterionisusedbytheWorldBanktodistinguishlow−incomecountriesfromhigh−incomeorrichcountries,whichhaveapercapitaincomeofUS 2400 or less** per annum are classified as low-income countries. This specific income threshold is based on the data for the year 2023. This criterion is used by the World Bank to distinguish low-income countries from high-income or rich countries, which have a per capita income of US 63,400 and above.

Exercise: LET’S WORK THESE OUT | Q: 5 | (Page 8)
For More Understanding

Explanation

The textbook context explicitly states the classification criteria used by the World Bank in the World Development Reports. It specifies the exact income threshold for low-income countries. The student needs to extract this specific figure (US$ 2400 or less) directly from the text to answer the question accurately.

Solution Steps

  1. Step 1: Locate the section in the text discussing 'World Development Reports' and country classification.

  2. Step 2: Identify the specific income range mentioned for 'low-income countries'.

  3. Step 3: Extract the value 'US$ 2400 or less' as the required answer.

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