Question

According to the world bank rating which countries were regarded as rich and developed

Answer 1

●according to world bank,countries with per capita income of US$ 12056 per annum and above are considered rich and developed countries.

●countries with per capita income of US$ 955or less per annumare called low inco.e and less developed countries

●the rich countries excluding countries of middle East and certain other small countries are generally called developed countries

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Answer 2

Answer:

The income classification is based on a measure of national income per person, or GNI per capita, calculated using the Atlas method. In 1978, the first World Development Report introduced groupings of "low income" and "middle income" countries using a threshold of $250 per capita income as threshold between the groups. In the 1983 WDR, the "middle income group" was split into "lower middle" and "upper middle" groups, and in 1989 a "high income" country definition was introduced.

Since then, the thresholds to distinguish between the income groups have been adjusted for prices over time. As of 1 July 2019, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,025 or less in 2018; lower middle-income economies are those with a GNI per capita between $1,026 and $3,995; upper middle-income economies are those between $3,996 and $12,375; high-income economies are those with a GNI per capita of $12,376 or more. The chart shows how the thresholds, and various countries' economies have evolved over time.