1. Models of economic growth, such as the Harrod-Domar or the Solow models, start from premise that more consumption per capita is better and that improvements in technology can remove all constraints on economic growth.

a) Even if consumption per capita were distributed equitably, why could more consumption per capita not enhance individual or social wellbeing?Why is consumption (or income) an imperfect measure of wellbeing?Explain.

b) Can improvements in technology really remove all constraints on economic growth?Explain why or why not.

c) Despite your answers to parts a and b, growth of GDP per capita remains the goal of economic policy. Explain why.