Question One (7 Marks) According to the data available on February 2nd, 2023, International Monetary Fund (IMF) projected China's real GDP growth rate to be 5.2% in 2023, with the population of 1,411.961 million; and India's real GDP growth rate was projected to be 6.1%, with the population of 1,419.656 million. The information can be found at: https://www.imf.org/en/Countries.

Use the above information and your understanding about economic growth theory to determine whether the following statement is true or not with an explanation: "If India's real GDP growth rate is higher than that of China as projected by IMF, standard of living in India in 2023 must be exceeding China's level."

Question Two (13 Marks) Inclusive and sustainable economic development is the "Goal 8" of the 17 Sustainable Development Goals called by the United Nations: https://www.un.org/sustainabledevelopment/economic-growth/

Read the following article about Indonesia' rural economy and use the knowledge that you have learned about economic development to explain how this economic development plan is potentially achievable: https://news.un.org/en/story/2023/01/1132762