📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Consider the following statements: 1. The World

      Bank assigns the world’s economies to four income groups, low, lower-middle, upper-middle, and high-income countries. 2. The classifications are updated each year on 1st July and are based on Gross National Income (GNI) per capita in the current USD of the previous year. Which of the statements given above is/are incorrect?
      A 1 Only Correct Answer Incorrect Answer
      B 2 Only Correct Answer Incorrect Answer
      C Both are incorrect Correct Answer Incorrect Answer
      D None Correct Answer Incorrect Answer

      Solution

       The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. Hence, statement 1 is correct.   The classifications are updated each year on 1st July and are based on Gross National Income (GNI) per capita in the current USD of the previous year. Hence, statement 2 is correct.   GNI is the total amount of money earned by a nation's people and businesses. 

      Practice Next
      More ESIC Part B Questions

      Relevant for Exams:

      ask-question