Question 4

Your friend argues real GDP per capita is a poor measure of economic well-being, as it does not

address a lot of issues related to people's quality of lives. Provide some counter arguments that

can convince your friend that GDP is a good indicator of a country's standard of living.

Question 5

The government of country Alpha has made university education free for the people of the

country. Using the lessons from the course, discuss how such a policy can impact economic

growth in the country.