General Instructions:This is an exercise of how well you use concepts and principles when you analyze. Use the theories, concepts, and principles discussed in class as much as you can. Answers based on common sense and stock knowledge will not help you even if what you say is true. You need to show how well you reason analytically. Make sure that everything you do is accompanied by an explanation of why you did it. Make sure you cite reference materials that you used.

Answer the following questions:

1. Which should come first, growth or development?
2. Is the flying geese paradigm mutually beneficial for economies?
3. Cite a reasonable measure of growth.
4. Cite a reasonable measure of development.