Economics · Economic Indicators
Statement I: The World Bank classifies the world's economies into four income groups based on Gross National Income (GNI) per capita. Statement II: Countries are permanently fixed in their assigned income groups regardless of any subsequent economic growth or fluctuations. Statement III: The income classification system uses official market exchange rates directly without any specialized adjustment methodology to convert local GNI figures into US dollars. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Neither Statement II nor Statement III is correct.✓
- 2Only Statement III is correct.
- 3Both Statement I and Statement II are correct.
- 4Both Statement II and Statement III are correct.
Correct answer
Neither Statement II nor Statement III is correct.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Economic Indicators MCQs →Want more practice questions on Economic Indicators?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Economic Indicators