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What are Less Developed Countries (LDCs)?
Less Developed Countries:
Developing countries are frequently considered to as less developed countries. The World Bank categorizes all countries into the low or middle income group (that is GNP per capita of less than 6,000 dollar) like LDCs.
Assume that the per capita income in Alfaland (with initial high per capita income) is growing quicker than it is in Betaland (with initial low per capita income). Then: the gap in
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