For each statement (a) Mention if you think it is True, False or Uncertain and (b) provide a two to three sentences explanation (theoretical or empirical evidence based with citations) of your answer.

1. Physical geography of a region can affect its economic performance

2. Bad or good culture across countries can explain differences in their economic performance

3. The success of the Chinese economy has posed intellectual challenges to mainstream economists.

4. Trade benefits all participating countries equally.