Question 1. Apply the Rule 70 to the data in the figure below, determine if would India's real GDP per capita exceed that of the US in the future if growth rates remain as shown in the figure (below)? Average annual growth rate of real GOP 10% per capita, 1980-2015 8 7.9% 161 China India Ireland United France Argentina Mater Question 2. List five institutions that promote economic growth. Question 3. Are economists more concerned about the limits to growth imposed by environmental degradation or those imposed by resource scarcity? Question 4. In the 1980s the rise of conservative governments in majority of developed world (notable in the US, Canada Britain and the West Germany) came with a neoclassical counterrevolution (so called Market Fundamentalism) in economic theory and policy. Explain/list the central arguments of the neoclassical counterrevolution (it is also called neo liberalism)