PART A 1. The Global Financial crisis of 2007/8 resulted in a resurgence of interest in Keynesian economics among many economists and policy makers in many parts of the world. This included discussions and implementation of economic policies based on the recommendations made by J.M. Keynes in response to the Great Depression of the 1930s. [a] Explain the theoretical foundations of Keynesian economics. (7 0%) (b) Do you support this resurgence? Justify your answer. (30%) 2. Explain and show using a graph how the long run outcome in monopolistic competition differs om that in a monopoly. (100%)