Question: Please consider the following real GDP data for five countries. The values are measured in billions of each country's national currency, except for Panama, which

Please consider the following real GDP data for five countries. The values are measured in billions of each country's national currency, except for Panama, which is measured in US Dollars and is in millions, not billions. The base year for India, Brazil and Russian Federation is 2000, and for France and Panama is 2010.

India Brazil France Panama Russia
2015 27,802 298 525 10,766 21,386
2016 30,301 288 530 11,107 21,433
2017 32,237 293 543 11,530 21,810
2018 34,544 297 553 11,755 22,380
2019 36,138 302 564 11,910 22,783

Source: OECD, Eurostat, World Bank

  1. Which country experienced the highest average annual growth rate between 2015 and 2019?
  2. Does it matter for your answer above that the Real GDP for each country is measured in a different currency and base year? Briefly explain.
  3. What additional information would you need to assess - and compare - standard of living over this time period and across these five economies?

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