I need help with these three homework assignment questions. PLEASE be as elaborate as much as possible in your answers. I need original answers, not copy and paste ones.

-------------------------------------------------------------------------------------------------------------------

Question 1:Suppose the people in a certain economy decide to stop saving and instead use all their income for consumption. They do nothing to add to their stock of human or physical capital. Discuss the prospects for growth of such an economy.

Question 2: China's annual rate of population growth was 1.2% from 1975 to 2003 and is expected to be 0.6% from 2003 through 2015. How do you think this will affect the rate of increase in real GDP? How will this affect the rate of increase in per capita real GDP?

Question 3: Suppose real GDP increases during President Obama's term in office at a 5% rate. Would that imply that his policies were successful in "growing the economy"?