The World Bank defines extreme poverty as income of less than $1.90 per day per person.
Answer the following statement true (T) or false (F)
True
By global standards, the United States is unquestionably a very rich nation. U.S. GDP per capita is five times larger than the world average. By American standards, virtually all the people in the poorest nations with average income under $4,000 would be poor. By their standards, few Americans would be poor. Extreme poverty refers to income of less than $1.90 per day.
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What is the function of the World Bank?
What will be an ideal response?
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Point Y is ________, and point V is ________.
A. efficient; efficient B. efficient; inefficient C. inefficient; inefficient D. inefficient; efficient
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