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What are colonial background countries of the development process?
A colony is a country controlled by other. Various European countries had extensive empires as:
• Latin American countries have been basically been independent from the 19th century.
• Europe dominated several African and Asian countries till the 2nd World War.
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
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Consider the following information in the international money markets: Spot rate : $0.95:€ Forward rate (one year) :
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