After watching the clip, you will understand how sustainable development may eliminate the gap

between the rich and the poor. Sustainable development refers to progress that meets current human
needs without affecting the ability of future generations to meet their own. So, because sustainable
development tries to manage our resources, it basically means that we can have and enjoy our
requirements as well as the following generation. The 17 SDGs are the following: (1) No poverty (2) Zero
hunger (3) Good health and well-being (4) Quality Education (5) Gender equality (6) Clean water and
sanitation (7) Affordable and clean energy (8) Decent work and economic growth (9) Industry,
innovation, and infrastructure (10) Reduced inequalities (11) Sustainable cities and communities (12)
Responsible consumption and production (13) Climate action (14) Life below water (15) Life on land (16)
Peace, justice, and strong institutions (17) Partnership for the goals. Once everyone, from the bottom to
the top, achieves all of the SDG targets, the gap between the rich and the poor will no longer be a
significant issue for anyone. There will be no such thing as poor or wealthy. Finally, it has the potential
to bring about meaningful change and close the gap between rich and poor countries.

How do the government uses the monetary and fiscal policy to achieve economic development? Justify

The employment of government spending and taxation to impact the economy is known as fiscal policy.
Fiscal policy is often used by governments to foster strong, long-term growth and poverty reduction.
During the current global economic crisis, governments stepped in to support financial institutions,
jump-start economy, and lessen the crisis' impact on vulnerable individuals, the function and objectives
of fiscal policy gained prominence. The Federal Reserve System's (the Fed) operations to control the
money supply are known as monetary policy. Interest rates rise, inflation falls, and economic growth
slows when the Fed restricts the money supply. The Fed encourages economic growth by increasing the
money supply. To influence the economy, the government also employs fiscal policy, which include
changes in taxing and spending levels. Reducing taxes or cutting expenditure promotes the economy,
while raising taxes or cutting spending has the reverse effect. When the government spends more than
it collects in taxes, it must borrow to cover the gap. Some economists believe that deficit spending is a
good strategy to promote the economy, while others are concerned about our enormous national debt.

Is FDI (foreign direct investment) beneficial for a country in achieving economic development. Justify
your answer.

FDIs are generally made in open economies with a trained workforce and growth prospects. When an
investor creates international business operations or buys foreign assets, such as establishing ownership
or controlling stake in a foreign company, this is known as foreign direct investment. As investors
establish new businesses in foreign countries, FDI creates new jobs and possibilities. This can result in
residents earning more money and having more purchasing power, resulting in an overall rise in the
targeted economies. A significant benefit of FDI is the development of human capital resources. The
skills developed by the workforce through training contribute to a country's overall education and
human capital. FDI-receiving countries benefit from the development of their human resources while
keeping ownership. Another significant benefit of foreign direct investment is the growth in the revenue
of the target country. More jobs and greater pay usually lead to a rise in national income, which fosters
economic growth. Large firms typically pay higher salaries than those found in the target nation,
resulting in an increase in income. Another significant benefit of foreign direct investment is that it
increases the target country's income. More jobs and greater pay usually lead to a rise in national
income, which fosters economic growth. Large firms typically pay greater salaries than those found in
the target country, which might result in an increase in income.