Economic growth

Questions

  1. What are the major costs and benefits of faster economic growth?
  2. If the current level of national income per head in Poland is £10,000 per year and in the UK it is £30,000, does this mean that the average UK citizen is 3 times better off than the average Polish citizen?
  3. Discuss the arguments for a broader definition of economic welfare to include ‘quality of life’ indicators.
  4. Assess whether an indicator of ‘happiness’ is a valid economic indicator of welbeing.