Mexicos real GDP was 18,163 billion pesos in 2017 and 18,526 billion pesos in 2018. Mexicos population

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Mexico’s real GDP was 18,163 billion pesos in 2017 and 18,526 billion pesos in 2018. Mexico’s population was 123.5 million in 2017 and 124.7 million in 2018. Calculate:

a. The growth rate of real GDP.

b. The growth rate of real GDP per person.

c. The approximate number of years it takes for real GDP per person in Mexico to double if the 2017 growth rate of real GDP and the population growth rate are maintained.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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