.The problem of “multiple equilibria” for the growth of Less Developed Economies (LDCs) is sometimes the explanation behind
the use of active/ discretionary government policy. Examine and discuss with an illustrative example.
.Critics of international trade from developing economies claim that present trading relationships between developed and
underdeveloped countries can be a source of “anti-development” for the later and merely serve to perpetuate their weak and
dependent status. Explain this argument. Would you agree or disagree? Explain why.
.Giving two examples of international debt crisis of developing/ emerging economies, examine if International Monetary Fund
lending is the most effective form of support to aid these economies back to a state of economic health.