1. Explain what you understand by the following: a. Gross National Income. b. Gross Domestic Product. c. Development d. New Human Development Index. e. Institutions and their role in economic development. f. Stages-of-growth model of development. g. Harrod-Domar growth model. Briefly discuss the two key parameters in explaining growth according to the Harrod-Domar Model. h. A developing country has a saving rate of 12 percent and an incremental capital output ratio of 3. Using the Harrod-Domar model, calculate what the GDP of this country will be next year if the current GDP is $ 1500? 2. Explain the difference between a developed and a developing country. Provide examples in your answer. What is the main criterion that the World Bank uses to classify different countries? What are the limitations of this criterion, if any? 3. This question pertains to the Sustainable Development Goals. a. List and briefly discuss the significance of each of the SDGs. b. Outline some constraints that developing countries face in achieving the SDGs by 2030. c. Propose some measures for addressing the constraints identified in part (b) above. d. Why is the issue of sustainability important for development? 4. Explain how reducing income and gender inequality could prove beneficial to a country's process of economic growth and development. 5. Listen carefully and critically to the speech by David Malpass, the President of the World Bank Group at this year's World Bank Group Youth Summit and answer the following questions: a. According to the speech, what is the mission of the World Bank? How is this mission related to development? b. According to the speech, what are some recent development challenges/crises that developing countries are facing? c. According to the speech, what are some practical actions that can be used to address the development challenges identified in the speech