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Question

1.Brazil’s real GDP was 1,360 trillion reias in 2009 and 1,434 trillion reias in 2010. Brazil’s population was 191.5 million in 2009 and 193.3 million in 2010. Calculate

a.The economic growth rate.

b.The growth rate of real GDP per person.

c.The approximate number of years it takes for real GDP per person in Brazil to double if the 2010 economic growth rate and population growth rate are maintained.

2.Japan’s real GDP was 525 trillion yen in 2009 and 535 trillion yen in 2010. Japan’s population was 127.6 million in 2009 and 127.5 million in 2010. Calculate

a.The economic growth rate.

b.The growth rate of real GDP per person.

c.The approximate number of years it takes for real GDP per person in Japan to double if the real GDP economic growth rate returns to 3 percent a year and the population growth rate is maintained.