1. Bora makes the following claim: "As aggregate production equals aggregate income, and since income is a good measure of economic well-being, therefore GDP per capita is a strong measure of economic well-being in a society.\" Discuss the accuracy of Bora's claim. 2. Debasish has learnt about the dangers of ination during his time studying ECONSUEQ. He therefore believes that the government should set an ination target of [1% per year. Do you agree with Debasish? \"Whyfwhy not? 3. The Aggregate Production Function method for thinking about economy-wide pro- duction is usually written like Y = A X F[K,H) where K is capital, H = 11L is human-capital adjusted labour, and A is total factor productivity or technology. a) Give three examples of factors of an economy which might be captured by the 'technologrI term A in this expression. b) If the government wants to encourage long-run economic growth in society, which of the factors above (A, K, or H ) should the government try to increase, and why. (For each factor you should say whether it could be targeted by the government and why}r why not.)