Official Answer Key & Detailed Solution
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Correct Answer: Option (C) — US $ 725 or less
Concept & Option Breakdown
Standard Reference VerifiedAccording to the World Bank's World Development Report (1996), low-income economies were defined as those with a Gross National Product (GNP) per capita of $725 or less in 1994 (calculated using the World Bank Atlas method).
World Bank historically defined the low-income threshold in the mid-1990s in the $700–$750 range.
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