TRUE OR FALSE

1.Technological externalities from advanced countries help in increasing the productivity of firms in developing countries.*

2.Improving hard and soft infrastructure increase investments and trade of a nation.*

3.The development of a nation is necessarily the function of governments but not necessarily of the individuals or the private sector.*

4.O- Ring Model posits that there are no small tasks in the development process of nations.*

5.Diagnosis of an economic problem reduces the chance of failure in solving it.*

6.Inequality can be addressed by correcting the distortion in the prices of economic resources.*

7.Distortions in the wage of workers can be avoided when the labor market is competitive.*