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Global Inequality Refers to the Systematic Differences in Wealth and Power

question 28

Multiple Choice

Global inequality refers to the systematic differences in wealth and power that exist among countries.The World Bank uses per person gross national income (GNI) to classify countries into four economic classes: low income,lower middle income,upper middle income,and high income.If a country's life expectancy at birth is 68 years,in which economic class would this country MOST likely belong?


Definitions:

Financial Lease

A type of lease in which the lessee has use of the asset for most of its useful life and the lease payments cover the full cost of the asset, effectively transferring the risks and rewards of ownership.

Financial Lease

A type of lease in which the lessee has use of the asset for most of its useful life, and the lease payments are designed to cover the lessor's purchase costs and provide a profit.

Lessor

The group that provides a property or asset for lease to another group, identified as the lessee.

Nonrecourse Basis

Nonrecourse Basis refers to a type of financing or lending where the borrower is not personally liable beyond the collateral for the loan.

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