economicsWhich one of the following factors is considered by the World Bank for classifying countries?

Which one of the following factors is considered by the World Bank for classifying countries?


  1. A
    Infant Mortality Rate
  2. B
    Availability of free and universal healthcare
  3. C
    Per-capita income
  4. D
    Literacy level 

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    Solution:

    Per-capita income is the only factor the World Bank considers for classifying countries. According to its reports in 2019, countries with a per-capita income of US$ 49300 per annum and above are classified as high-income or rich countries. Accordingly, countries with a per-capita income of US $ 2500 or less are classified as low-income. Thus, it is concluded that the UNDP puts down better criteria for comparing countries and, thus, is just a way to classify countries.
     
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