Soume World Development Indicators, World Bank (a) Describe, by com lent ng the data reported in Table 1, the main phases of a prototype Balance of Payments cycle taking place in a developing country (20 points) (b) What does the term "t.. in deficits" generally e.e. to in the economic literature? Do the data reported in Table 1 provide evidence of a standard "twin deficits" story as frequently asserted by neoliberal economists? (8 points) (c)Describe which are the similarities and differences between the alternative policy packages aimed at dealing with finance-led macroeconomic instability as proposed by (critical) mainstream economists on the one side and heterodo. ones on the other (8.5 points)