Choose whether the given statement is True/False:

The World Bank definition of poverty states that $2 is required for per person per day consumption .

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True

False

answer is B.

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Detailed Solution

The above statement is false.
The World Bank definition of poverty states that $1.90 is required per person per day of consumption. This international poverty line was originally defined as $1 a day. According to this line, when the purchasing power parity and all the consumed goods are in the calculation line, it allows the institutions and organisations to determine or state ideally which populations have to be considered poverty-stricken. The World Bank sets up this poverty line at regular intervals because the cost of the necessities like food, clothing, and shelter keeps changing.

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