Which of the following is true about classifying countries as low income, middle income, or high income? O There is no criteria for classifying economies as low income, middle income, or high income O Countries with unemployment rates above 5% are classified as low income O Low income countries have $1,025 per capita GDP per year or lower O High income countries have $15,625 GDP per capita GDP per year or higher
Which of the following is true about classifying countries as low income, middle income, or high income? O There is no criteria for classifying economies as low income, middle income, or high income O Countries with unemployment rates above 5% are classified as low income O Low income countries have $1,025 per capita GDP per year or lower O High income countries have $15,625 GDP per capita GDP per year or higher
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 4P
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![Which of the following is true about classifying countries as low income, middle income, or
high income?
O There is no criteria for classifying economies as low income, middle income, or high income
O Countries with unemployment rates above 5% are classified as low income
Low income countries have $1,025 per capita GDP per year or lower
O High income countries have $15,625 GDP per capita GDP per year or higher](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75e68359-3bf7-4244-a893-38fcac82c5ec%2Fa50a01c5-0ad5-4351-991e-ab8279856d94%2Fql7iedc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following is true about classifying countries as low income, middle income, or
high income?
O There is no criteria for classifying economies as low income, middle income, or high income
O Countries with unemployment rates above 5% are classified as low income
Low income countries have $1,025 per capita GDP per year or lower
O High income countries have $15,625 GDP per capita GDP per year or higher
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