Which of the following countries is not a low income country ?

Related Mcqs:

1. The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

   A. less than $900, $900-$9000 and more than $9000
   B. less than $5000, $5000-$15000 and more than $15000
   C. less than $100, $100-$1000 and more than $1000
   D. less than $5000, $5000-$150000 and more than $150000

2. Which of the following are low income countries income country ?

   A. Canada
   B. United States
   C. Mexico
   D. Australia

3. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax
   B. a regressive tax
   C. an equitable tax
   D. a progressive tax

4. Which of the following countries is not a low-income country ?

   A. Ethiopia
   B. Rwanda
   C. Somalia
   D. Singapore

5. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

6. All of the following are low income countries except ?

   A. United Arab Emirates
   B. Armenia
   C. Sudan
   D. Bangladesh

7. Which of the following statement is true about low-income countries ?

   A. less than 10% of the labor force is in agriculture
   B. the average agriculture family produces surplus large enough only to supply small non-agriculture population
   C. One-third of the labor force produce food
   D. share of labor force is about 30%

8. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

9. In low-income countries the average agricultural family produces a surplus ?

   A. enough to supply only a small nonagricultural population
   B. of zero
   C. large enough of feed five other families
   D. large enough to feed 25 other families

10. In 1990, during the Persian Gulf War, the U.S government extended generous terms to two middle-income countries by canceling or reducing their debt The two countries were ?

    A. Iraq and Iran
    B. Egypt and Poland
    C. Pakistan and Afghanistan
    D. Saudi Arabia and Jordan