Consider the following statements about Middle-income trap:
I. Middle-income trap is a situation in middle-income countries where they are not able to move up to higher-income status.
II. Low-income countries are those with a per capita income lower than $1005.
III. Second category is the middle-income group with a per capita income varying from $1006 to $ 12235. Which of the above statement(s) is/are correct?