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1-describe why institutions are important for economic development in Latin America ?
2-Explain how institutions has affected economic growth in Latin America. In particular, describe both institutional basics and institutional quality necessary for economic growth
1. What factors might contribute to low or high growth rates in a country? How can a sustainable long-run economic growth rate be realized? What are the roles of the government in achieving sustainable long-run economic growth?
2. Why resources are no longer the most important indicators of economic growth disparity among countries? Which other economic and non-economic factors do you think explain the reasons behind growth disparities among countries?
3. What is the relationship between economic growth rate and unemployment rate?
Explain how the economic growth is measured