ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A country described as an HIC is ____
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More developed
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less developed
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newly industrialised
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Money efficient
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Explanation:
Detailed explanation-1: -High income country (HIC)-a country that has a GNI per capita of $12, 535 or above according to the World Bank. These are richer countries that have lots of industry and service jobs such as the UK and Japan. •
Detailed explanation-2: -A developed country-also called an industrialized country-has a mature and sophisticated economy, usually measured by gross domestic product (GDP) and/or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.
Detailed explanation-3: -Advanced economies are developed countries with high per capita income, diversified industry, and modern financial institutions.
There is 1 question to complete.