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A developed country is primarily defined by its large agricultural sector and low per capita income.
Answer: False
Explanation: Developed countries are characterized by advanced technological infrastructure, high quality of life, and post-industrial economies where the service sector generates more wealth than the industrial sector, contrasting with developing countries that may have large agricultural sectors and lower per capita incomes.
The United Nations Statistics Division has a strict, established convention for designating 'developed' and 'developing' countries.
Answer: False
Explanation: The United Nations Statistics Division explicitly states that there is no established convention for designating 'developed' and 'developing' countries, and these terms are used for statistical convenience rather than definitive judgments.
The United Kingdom was the first country to industrialize.
Answer: True
Explanation: The United Kingdom is identified as the first industrialized country, followed by Belgium, leading the initial wave of industrial transformation.
Jeffrey Sachs believes the division between the developed and developing world is an ancient historical phenomenon.
Answer: False
Explanation: Economist Jeffrey Sachs posits that the current division between the developed and developing world is largely a phenomenon that emerged in the 20th century, not an ancient one.
Mathis Wackernagel supported the binary labeling of countries as 'developed' or 'developing' as an accurate descriptor.
Answer: False
Explanation: Mathis Wackernagel criticized the binary labeling of countries as 'developed' or 'developing,' calling it 'neither descriptive nor explanatory' and a 'thoughtless and destructive endorsement of GDP fetish.'
The term 'emerged' describes countries that are still considered 'emerging markets' but have high HDI scores.
Answer: False
Explanation: The term 'emerged' is proposed to describe markets, economies, or countries that have advanced beyond 'emerging market' status but have not yet reached the full level of developed countries.
The WESP report for January 2025 classifies 37 countries as 'developed economies'.
Answer: True
Explanation: As of January 2025, the United Nations Department of Economic and Social Affairs' *World Economic Situation and Prospects* (WESP) report classifies 37 countries as 'developed economies'.
Which of the following is NOT a common criterion used to evaluate a country's degree of economic development?
Answer: Average annual rainfall
Explanation: Common criteria for evaluating economic development include GDP, GNP, per capita income, industrialization, infrastructure, and standard of living. Average annual rainfall is not a standard economic development criterion.
How do the economies of developed countries primarily differ from those of developing countries?
Answer: Developed countries have post-industrial economies where the service sector generates more wealth than the industrial sector.
Explanation: Developed countries are characterized by post-industrial economies where the service sector is the primary wealth generator, whereas developing countries are often in the process of industrialization or remain predominantly agrarian.
Which country was the first to industrialize, according to the source material?
Answer: United Kingdom
Explanation: The United Kingdom is identified as the first country to industrialize, initiating the global industrial transformation.
What was Mathis Wackernagel's primary criticism of the binary labeling of countries as 'developed' or 'developing'?
Answer: He called it 'neither descriptive nor explanatory' and a 'thoughtless and destructive endorsement of GDP fetish.'
Explanation: Mathis Wackernagel strongly criticized the binary classification of countries, stating it was 'neither descriptive nor explanatory' and represented a 'thoughtless and destructive endorsement of GDP fetish,' advocating for a more nuanced understanding of national diversity.
As of January 2025, how many countries are classified as 'developed economies' by the UN Department of Economic and Social Affairs' *World Economic Situation and Prospects* (WESP) report?
Answer: 37
Explanation: The UN Department of Economic and Social Affairs' *World Economic Situation and Prospects* (WESP) report for January 2025 classifies 37 countries as 'developed economies'.
Which of the following European countries is classified as a 'developed economy' by the UN Department of Economic and Social Affairs' WESP report as of January 2025?
Answer: Bulgaria
Explanation: As of January 2025, Bulgaria is listed among the 31 European countries classified as 'developed economies' by the UN Department of Economic and Social Affairs' WESP report.
The Human Development Index (HDI) combines national income, life expectancy, and education to assess human development.
Answer: True
Explanation: The Human Development Index (HDI) is a statistical measure that integrates national income, life expectancy, and education levels to provide a comprehensive assessment of human development within an economy.
Norway has consistently held the highest HDI scores since 1990 for most years.
Answer: True
Explanation: Norway has consistently achieved the highest Human Development Index (HDI) scores for most years since 1990, specifically from 2001–2006 and 2009–2019.
As of 2023 data published in 2025, Switzerland ranks first in the Human Development Index.
Answer: False
Explanation: Based on 2023 data published in 2025, Iceland ranks first in the Human Development Index, while Switzerland is tied for second place with Norway.
What is one significant limitation of the Human Development Index (HDI) as a measure of a country's advancement?
Answer: It does not account for net wealth per capita or the relative quality of goods within a country.
Explanation: A significant limitation of the Human Development Index (HDI) is its failure to account for factors such as net wealth per capita or the relative quality of goods within a country, which can affect a nation's overall advancement ranking.
Which countries have historically held the highest HDI scores since 1990, according to the source?
Answer: Norway, Japan, Canada, Iceland
Explanation: Since 1990, Norway, Japan, Canada, and Iceland have consistently achieved the highest Human Development Index (HDI) scores, demonstrating sustained high levels of human development.
Based on the 2023 data published in 2025, which country holds the first rank in the Human Development Index?
Answer: Iceland
Explanation: According to the 2023 data published in 2025, Iceland holds the first rank in the Human Development Index with an HDI value of 0.972.
According to the IMF's 2023 data, advanced economies account for over 60% of global GDP based on nominal values.
Answer: False
Explanation: As of 2023, advanced economies account for 57.3% of global GDP based on nominal values, not over 60%, according to the International Monetary Fund (IMF).
The IMF officially lists 41 countries and territories as 'advanced economies'.
Answer: True
Explanation: The International Monetary Fund (IMF) officially lists 41 countries and territories as 'advanced economies,' with additional microstates and dependencies included by the CIA.
According to the IMF's 2023 data, what percentage of global GDP do advanced economies comprise based on nominal values?
Answer: 57.3%
Explanation: The International Monetary Fund's 2023 data indicates that advanced economies account for 57.3% of the global GDP based on nominal values.
According to the International Monetary Fund (IMF), how many countries and territories are officially listed as 'advanced economies' (excluding CIA additions)?
Answer: 41
Explanation: The International Monetary Fund (IMF) officially lists 41 countries and territories as 'advanced economies,' excluding the additional microstates and dependencies noted by the CIA.
Which of the following is an Asian country or territory listed as an 'advanced economy' by the IMF (including CIA additions)?
Answer: Macau
Explanation: Macau is listed among the eight Asian countries and territories classified as 'advanced economies' by the IMF, including CIA additions.
The World Bank classifies economies as high-income if their nominal GNI per capita exceeds $10,000.
Answer: False
Explanation: As of the 2025 fiscal year, the World Bank classifies economies as high-income if their nominal GNI per capita exceeds $13,935, not $10,000.
An asterisk next to a country name in the World Bank's high-income list signifies it is a sovereign state.
Answer: False
Explanation: An asterisk next to a country or territory name in the World Bank's list of high-income economies indicates that it is a non-sovereign territory, not a sovereign state.
What is the World Bank's criterion for classifying high-income economies as of the 2025 fiscal year?
Answer: A nominal GNI per capita exceeding $13,935.
Explanation: As of the 2025 fiscal year, the World Bank classifies economies as high-income if their nominal GNI per capita exceeds $13,935.
What does an asterisk (*) next to a country or territory name in the World Bank's list of high-income economies signify?
Answer: It signifies that it is a non-sovereign territory.
Explanation: An asterisk (*) next to a country or territory name in the World Bank's list of high-income economies indicates that it is a non-sovereign territory, distinguishing it from independent states.
The Development Assistance Committee (DAC) is primarily a forum for developing countries to request aid.
Answer: False
Explanation: The Development Assistance Committee (DAC) is primarily a forum for major donor countries (OECD members and the EU) to coordinate solutions for development aid and poverty reduction, not for developing countries to request aid.
The Paris Club consists of 22 permanent members who are officials from major creditor countries.
Answer: True
Explanation: The Paris Club is composed of 22 permanent members, who are officials from major creditor countries, and its function is to find coordinated solutions for debtor countries' payment difficulties.
Brazil is a permanent member of the Paris Club.
Answer: True
Explanation: Brazil is one of three countries from the Americas that are permanent members of the Paris Club, a group of major creditor countries.
Australia is the only permanent member of the Paris Club from Oceania.
Answer: True
Explanation: Australia is indeed the sole permanent member of the Paris Club from Oceania, participating in the group of major creditor countries.
Singapore is a DAC member from Asia.
Answer: True
Explanation: Singapore is listed as one of the three Asian countries that are members of the Development Assistance Committee (DAC), alongside Japan and South Korea.
What is the primary role of the Development Assistance Committee (DAC)?
Answer: To serve as a forum for major donor countries to coordinate solutions for development aid and poverty reduction.
Explanation: The Development Assistance Committee (DAC) primarily functions as a forum for major donor countries to coordinate strategies and solutions for development aid and poverty reduction in developing countries.
How many permanent members are there in the Paris Club?
Answer: 22
Explanation: The Paris Club consists of 22 permanent members, who are officials from major creditor countries working to address debtor countries' payment difficulties.
Which of the following is a European country that is a member of the Development Assistance Committee (DAC)?
Answer: Czech Republic
Explanation: The Czech Republic is listed among the 25 European countries that are members of the Development Assistance Committee (DAC), a forum for major donor countries.
Which of the following is an Asian country that is a DAC member?
Answer: Singapore
Explanation: Singapore is one of the three Asian countries listed as a member of the Development Assistance Committee (DAC), alongside Japan and South Korea.
Which of the following countries is a permanent member of the Paris Club from the Americas?
Answer: Brazil
Explanation: Brazil is one of the three countries from the Americas that are permanent members of the Paris Club, an informal group of major creditor countries.
Croatia achieved 'advanced economy' status by the IMF in 2017.
Answer: False
Explanation: Croatia was recognized as an 'advanced economy' by the IMF in 2023, not 2017. It achieved 'high-income economy' status by the World Bank in 2017.
San Marino became a 'high-income economy' by the World Bank in 2012.
Answer: False
Explanation: San Marino became a 'high-income economy' by the World Bank in 2000. It was classified as an 'advanced economy' by the IMF in 2012.
Andorra was recognized as an 'advanced economy' by the IMF in 2020.
Answer: True
Explanation: Andorra was recognized as an 'advanced economy' by the IMF in 2020, having been classified as a 'high-income economy' by the World Bank in 1990.
South Korea achieved 'very high human development' status (HDI) in 1997.
Answer: False
Explanation: South Korea achieved 'very high human development' status (HDI) in 1999. It was classified as an 'advanced economy' by the IMF in 1997.
Taiwan's HDI is not included in the UN report because it is not a UN member state.
Answer: True
Explanation: Taiwan's HDI is listed as 'N/A' in the UN report because it is no longer a UN member state and is not included as part of the People's Republic of China by the UNDP.
Poland is considered an 'advanced economy' by the IMF.
Answer: False
Explanation: Poland is not yet considered an 'advanced economy' by the IMF, placing it in the 'in process' category, despite achieving 'very high human development' and 'high-income economy' status.
The United Arab Emirates was classified as a 'high-income economy' by the World Bank in 2004.
Answer: False
Explanation: The United Arab Emirates was classified as a 'high-income economy' by the World Bank in 1987. It achieved 'very high human development' (HDI) status in 2004.
Russia is classified as an 'advanced economy' by the IMF.
Answer: False
Explanation: Russia is not listed as an 'advanced economy' by the IMF, placing it in the 'in process' category, despite achieving 'very high human development' and 'high-income economy' status.
Portugal became an 'advanced economy' according to the IMF in 1989.
Answer: True
Explanation: Portugal became an 'advanced economy' according to the IMF in 1989, and a 'high-income economy' by the World Bank in 1994.
Greece achieved 'very high human development' (HDI) status in 1996.
Answer: False
Explanation: Greece achieved 'very high human development' (HDI) status in 2001. It was classified as a 'high-income economy' by the World Bank in 1996.
Ireland has been recognized as an 'advanced economy' by the IMF since 1945.
Answer: True
Explanation: Ireland has been recognized as an 'advanced economy' by the IMF since 1945, demonstrating its long history as a developed nation.
Finland was classified as a 'high-income economy' by the World Bank in 1994.
Answer: False
Explanation: Finland was classified as a 'high-income economy' by the World Bank in 1987. It achieved 'very high human development' (HDI) status in 1994.
The United States achieved 'very high human development' (HDI) status before 1990.
Answer: True
Explanation: The United States achieved 'very high human development' (HDI) status before 1990, alongside its classifications as a 'high-income economy' by the World Bank in 1987 and an 'advanced economy' by the IMF in 1945.
Malaysia is classified as an 'advanced economy' by the IMF.
Answer: False
Explanation: Malaysia is not listed as an 'advanced economy' by the IMF; it falls into the 'Other recognitions' category, having achieved 'very high human development' (HDI) since 2016 but not meeting IMF or World Bank advanced/high-income classifications.
Guyana is listed as having 'very high human development' (HDI) in the comparative table.
Answer: False
Explanation: In the comparative table, Guyana is classified as a 'high-income economy' by the World Bank since 2022, but it is not listed as having 'very high human development' (HDI).
When did Croatia achieve 'advanced economy' status by the IMF?
Answer: 2023
Explanation: Croatia was recognized as an 'advanced economy' by the IMF in 2023, following its achievement of 'very high human development' in 2007 and 'high-income economy' status in 2017.
Which year did San Marino become a 'high-income economy' by the World Bank?
Answer: 2000
Explanation: San Marino became a 'high-income economy' by the World Bank in 2000, demonstrating its long-standing economic prosperity.
When was Andorra recognized as an 'advanced economy' by the IMF?
Answer: 2020
Explanation: Andorra was recognized as an 'advanced economy' by the IMF in 2020, building on its earlier classification as a 'high-income economy' by the World Bank in 1990.
Which of the following countries is listed as 'in process' of becoming developed, meaning it meets some but not all criteria?
Answer: Poland
Explanation: Poland is listed among countries 'in process' of becoming developed, as it has achieved 'very high human development' and 'high-income economy' status but is not yet classified as an 'advanced economy' by the IMF.
Which of the following countries has 'Other recognitions' for very high human development (HDI) but is not classified as advanced by the IMF or high-income by the World Bank?
Answer: Malaysia
Explanation: Malaysia is listed under 'Other recognitions,' having achieved 'very high human development' (HDI) since 2016, but it is not classified as an 'advanced economy' by the IMF or a 'high-income economy' by the World Bank.
When did South Korea achieve 'advanced economy' status by the IMF?
Answer: 1997
Explanation: South Korea achieved 'advanced economy' status by the IMF in 1997, marking a significant milestone in its rapid economic development.
Why is Taiwan's HDI listed as 'N/A' in the UN report?
Answer: Taiwan is no longer a UN member state and is not included as part of the People's Republic of China by the UNDP.
Explanation: Taiwan's HDI is listed as 'N/A' in the UN report because it is not a UN member state and is not included as part of the People's Republic of China by the UNDP for data calculation purposes.
When did Poland achieve 'very high human development' (HDI) status?
Answer: 2003
Explanation: Poland achieved 'very high human development' (HDI) status in 2003, though it is still considered 'in process' by the IMF for advanced economy status.
When did the United Arab Emirates become a 'high-income economy' by the World Bank?
Answer: 1987
Explanation: The United Arab Emirates was classified as a 'high-income economy' by the World Bank in 1987, indicating an early achievement of economic prosperity.
What is the status of Russia in the comparative table regarding its IMF classification?
Answer: In process
Explanation: In the comparative table, Russia is listed as 'in process' regarding its IMF classification, meaning it has not yet achieved 'advanced economy' status despite high human development and high-income economy classifications.
When did Portugal become an 'advanced economy' according to the IMF?
Answer: 1989
Explanation: Portugal became an 'advanced economy' according to the IMF in 1989, marking a key point in its economic development trajectory.
When did Ireland achieve 'advanced economy' status by the IMF?
Answer: 1945
Explanation: Ireland achieved 'advanced economy' status by the IMF in 1945, indicating its long-standing position as a developed nation.
What is the status of Malaysia in the comparative table regarding its World Bank classification?
Answer: Other recognitions
Explanation: In the comparative table, Malaysia's World Bank classification is listed under 'Other recognitions,' as it has achieved 'very high human development' but is not classified as a 'high-income economy' by the World Bank.
Which of the following countries is classified as a 'high-income economy' by the World Bank since 2022 but is in the 'Other recognitions' category for HDI and IMF?
Answer: Guyana
Explanation: Guyana is classified as a 'high-income economy' by the World Bank since 2022, but it falls into the 'Other recognitions' category for HDI and IMF classifications, indicating a unique development profile.
The world map showing IMF and UN classifications uses red to represent developed countries.
Answer: False
Explanation: The world map showing IMF and UN classifications uses blue to represent developed countries (IMF advanced economies), while red is used for least developed countries (UN).
What does the world map showing country classifications per the IMF and the UN (last updated April 2023) use blue to represent?
Answer: Developed countries (IMF advanced economies)
Explanation: The world map illustrating country classifications by the IMF and UN (April 2023) uses blue to represent developed countries, specifically those designated as 'IMF advanced economies'.
What does the image titled 'Countries described as Advanced Economies by the IMF' depict?
Answer: A world map highlighting countries that the International Monetary Fund (IMF) describes as 'Advanced Economies.'
Explanation: The image titled 'Countries described as Advanced Economies by the IMF' visually represents a world map specifically highlighting nations that the International Monetary Fund classifies as 'Advanced Economies'.