Economic growth

Question 1

  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 £6,000 per year and of the UK is £24,000, does this mean that the average UK citizen is 4 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.