Use the data on real GDP in the following table to answer the following questions. The values
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a. Which country experienced the highest rate of economic growth during 2012 (that is, for which country did real GDP increase the most from 2011 to 2012)?
b. Which country experienced the highest average annual growth rate between 2012 and 2014?
c. Does it matter for your answers to parts (a) and (b) that each country's real GDP is measured in a different currency and uses a different base year? Briefly explain.
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The annual rate of economic growth is calculated as the percentage change in real G...View the full answer
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