Question

As a general rule, low-income countries are concentrated in the Global South, while high-income countries are found in the Global North. Select one: True False.

Answer 1

The answer is true. Based on each country's Gross National Income, the World Bank assigns it economies certain income level. For low-income countries, the most recent categories (2022).

Vary from US$1045 or less to a maximum range of US$4096-US$12 695 for upper-middle-income countries. The phrase "Global South" is used to characterise nations with underdeveloped economies that struggle with issues including low per capita income, high unemployment, and a lack of valued capital. The cross-country studies show that globalisation has been accompanied by rising inequality within developing nations, which suggests that some of the gains in reducing poverty have been countered.

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