Questions on economic growth

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.