Choose whether the statement is true/false:

The per capita income of different countries is calculated in dollars.

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True

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answer is A.

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Detailed Solution

The above statement is true.
The per capita income of different countries is calculated in dollars.
Since the dollar has been the most robust and stable currency since the end of World War II, it is easier to compare the per capita incomes of different countries when converted into expected cash, such as the US dollar ($). Accordingly, the per capita income of other countries is calculated in dollars rather than in their currencies. The World Bank employs this criterion to categorise nations in its World Development Reports. High-income or affluent nations had a per capita income of at least US$49,000 annually in 2019, whereas low-income countries had a per capita income of US$2,550 or less.

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