Connect Problem CP 22-06 Suppose that the real output of a small developing country for year 1 is $3.5 billion and that population is 3.8 million. Further, suppose that at the end of year 5 real output increases to $3.9 billion and that population increases to 4.2 million Instructions: In parts a and b round your answers to 2 decimal places, and in part c round your answer to 1 decimal place. Use a negative sign to represent a decrease. 2 a. What is the average annual percentage increase in GDP? percent b. What is the average annual percentage increase in population? percent c. What is the average annual percentage increase in per capita GDP? percent d. Has the average standard of living in this developing country undergone an increase or a decrease during this time period? (Click to select)