Compare the economies of India and China today. What are their GDP per capita and their economic growth rates? What has caused the rapid expansion of Chinese economy compared to India for the past 30 years? What are the important factors distinguishing these two economies from population growth, human capital, political systems and so forth. What the future holds?

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.