The World Bank classifies countries into the three following major groups:
A)high-income economies,middle-income economies,and low-spending economies.
B)high-spending economies,middle-spending economies,and low-spending economies.
C)super-high-income economies,middle-income economies,and low-income economies.
D)high-income economies,middle-income economies,and zero-income economies.
E)high-income economies,middle-income economies,and low-income economies.

Question

Quizplus · Accepted Answer

The World Bank classifies countries into three major groups based on their income level: high-income economies, middle-income economies, and low-income economies. This classification is based on the gross national income (GNI) per capita of a country. The category of high-income economies is for countries with a GNI per capita of $12,376 or more. Countries with a GNI per capita of $1,026 or less are classified as low-income economies, and the remaining countries fall in the middle-income category. Therefore, option E is the best choice as it accurately describes the three income groups defined by the World Bank.

The World Bank Classifies Countries into the Three Following Major