Your response to each of the five questions should be approximately 150–250 words
1. Are per capita increases in GDP (gross domestic product) a good indicator of economic development? Explain your answer.
2. What are the Millennium Development Goals? In what respects are the new Sustainable Development Goals expected to be transformative shifts from the Millennium Development Goals?
3. What are institutional arrangements, and why might they have a crucial role to play in determining a nation’s development prospects? Illustrate your answer by referring to the experience of one country.
4. What are four major differences between the economies of Latin America and those of Africa?
5. What are the problems with development planning? What is meant by government failure in the context of economic development, and why might it occur?
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