The World Bank's GNP per capita classification for low income middle income and high income countries respectively is ?
Correct answer: A. less than $900, $900-$9000 and more than $9000
- A. less than $900, $900-$9000 and more than $9000
- B. less than $5000, $5000-$15000 and more than $15000
- C. less than $100, $100-$1000 and more than $1000
- D. less than $5000, $5000-$150000 and more than $150000
Explanation
This older World Bank classification uses per-capita GNP below $900 for low-income countries, $900 to $9,000 for middle-income countries, and above $9,000 for high-income countries. These thresholds are historical and have since been revised.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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