Asked by Laura Derhamer on May 08, 2024
Verified
Developing countries (DVCs) can be subdivided into the following groups except
A) low-income economies.
B) high-income economies.
C) lower-middle-income economies.
D) upper-middle-income economies.
High-income Economies
Countries with a high gross national income per capita, according to classification by international financial institutions like the World Bank.
Lower-middle-income Economies
Countries classified by the World Bank based on gross national income (GNI) per capita that are above low-income but below upper-middle-income thresholds.
Upper-middle-income Economies
Nations with a gross national income per capita above a certain threshold set by the World Bank, but below that of high-income economies.
- Understand the economic classification of countries into various income levels and their respective characteristics.
Verified Answer
Learning Objectives
- Understand the economic classification of countries into various income levels and their respective characteristics.
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