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Per NCERT, the WORLD BANK classifies countries based on PER CAPITA INCOME into 'rich' and 'low-income' countries. What threshold separates them per the textbook (illustrative classification)?
ACountries with per capita income above the World Bank threshold (around US$ 12,000+ per year) are classified as 'rich' or 'high-income'
BOnly countries in Europe
COnly countries with oil exports
DCountries with population > 1 billion are rich
Answer & Solution
Correct answer: A. Countries with per capita income above the World Bank threshold (around US$ 12,000+ per year) are classified as 'rich' or 'high-income'
Per NCERT §Income and Other Criteria, World Bank classification uses per capita income thresholds (rich ≈ above US$ 12,000+ pa). The other options misstate.
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