The Real GDP and population data for two hypothetical countries, Panchal and Lanka, for the years 2010 and 2011 are given as follows. Panchal Lanka Real GDP (2010) $12,256,000 $2,564,000 Population (2010) 16,000 4,000 Real GDP (2011) $13,236,480 $2,666,560 Population (2011) 16,640 4,040 Between the years 2010 and 2011, the absolute Real economic growth for Panchal is . Similarly, the absolute Real economic growth for Lanka is . The percentage change in Real GDP between two years may be calculated using this formula: Percentage Change in Real GDP = Change in Real GDPReal GDP in Year 1 The rule of 70 states that if a variable grows at X% per year, then it will take about 70X years for the variable to double. For Panchal and Lanka, the absolute real economic growth rates (percentage change in Real GDP) are 8% and 4%, respectively. If these rates of growth are sustained over a long period of time, it will take approximately years for the Real GDP of Panchal to double. On the other hand, it will take Lanka approximately years. The per-capita real economic growth between 2010 and 2011 for Panchal is . Similarly, per-capita real economic growth for Lanka is