1. Mexico’s real GDP was 13,769 billion pesos in 2014 and 14,120 billion pesos in 2015. Mexico’s population growth rate in 2015 was 1.2 percent. Calculate Mexico’s economic growth rate in 2015 and the growth rate of real GDP per person in Mexico in 2015.

2. Calculate the approximate number of years it will take for real GDP per person to double if an economy maintains an economic growth rate of 12 percent a year and a population growth rate of 2 percent a year.

3. Calculate the change in the number of years it will take for real GDP per person in India to double if the growth rate of real GDP per person increases from 8 percent a year to 10 percent a year.