Question: Use the data on real GDP in the following table to answer the following questions. The values are measured in each country's domestic currency. The

Use the data on real GDP in the following table to answer the following questions. The values are measured in each country's domestic currency. The base year for Brazil is 1995; the base year for Mexico is 2008; and the base year for Thailand is 1988.

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.

2011 1,192 12,774 4,600 2012 2013 2014 Country Brazil 1,213 13,286 4,898 1,247 1,248 13,757 5,076 Mexico Thailand 13,471 5,040

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