Question

Countries having income less than $740 are developing countries.True or false

Answer 1

Answer:

False

Explanation:

They are under developing nations.

Answer 2

Answer:

True

Explanation:

Because on the exchange rate  $1=N$17.40, meaning that $740 is N$12683.60 that is a bigger income for developing countries, but if it drops below $740 it becomes a developing countries reality due to the fact that developing countries mostly have unfavorable balance of payment(B.O.P).