1. Answer the following questions clearly. a. In your opinion, what are the three most serious socioeconomic problems faced by a majority of developing nations in the 21st century? Explain. b. In your opinion, what are the three most serious obstacles to development faced by most developing countries in the 21st century? Explain. c. How does a shift from emphasising economic growth to economic development alter the choice of growth strategy? What sort of strategy may be pursued in each case? Hint: What does development include as an objective that growth does not? Comment on the pros and cons of each strategy. d. The level and growth rate of real GDP per capita can be a misleading indicator of development. At the same time, countries that experience sustained increases in real GDP per capita over time will tend to be more developed. Comment on this statement. 2. These following questions are open-ended. a. The 2018 Human Development Report reported that the HDI of Gabon was 0.702 (and its rank was 114) and that of Peru was 0.759 (and its rank was 85). Per capita income (in PPP dollars) in Gabon was 15,794 and that of Peru was 12,323. Comment and explain. b. Between 2000 and 2012 India invested about 22% of its GDP while China's investment rate was double that of India's. India's annual growth rate has been about 6% while that of China has been about 9%. What conclusions can you draw? 3. The World Development Report provides the following information for Colombia and Thailand. Per capita Per capita Population Population Poverty Gini GDP ($) GDP (PPP$) below below $1 Gap at $1 Coefficient national per day per day poverty PPP (%) PPP (%) line (%) Colombia 2080 5890 17.7 11 3.2 0.571 Thailand 2010 6330 13.1