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Political Institutions and Development Economics
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Political Institutions and Development Economics

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Questions and Answers

What is the main focus of political institutions?

  • Providing aid during natural disasters
  • Influencing economic behaviors through shared practices and social norms
  • Creating a predictable and fair environment for business and trade
  • Establishing rules and policies driving economic growth and development (correct)
  • What do legal institutions refer to?

  • Systems of laws and regulations that create a predictable and fair environment for business and trade (correct)
  • Shared practices, values, and social norms that influence economic behaviors
  • Governing bodies and frameworks driving economic growth and development
  • Providing aid during natural disasters
  • What is the significance of legal institutions in fostering economic progress?

  • Providing aid during natural disasters
  • Creating a predictable and fair environment for business and trade (correct)
  • Establishing rules and policies driving economic growth and development
  • Influencing economic behaviors through shared practices and social norms
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