1.Consider the following data on the population and the real GDP of the economies of the Four Asian Dragons. You may use MS Excel (or any other program) to perform your calculations, but make sure to explain your answer briefly.

a.Calculate the real GDP per capita for each economy.

b.Calculate the annual growth rates of real GDP per capita (in percentage) from 2011 to 2014.

c.Take the natural logarithm (ln) of the per capita real GDP and calculate the approximate annual growth rates (in percentages) as "ln difference". Compare your results to part b.

d.Calculate the accumulative growth rate and the average growth rate of real GDP per capita between 1960 and 2014.

e.Apply the log approximate rule to calculate accumulative growth rate and the average growth rate between 1960 and 2014 and compare your results to part d. What is the implication of using two different measure to compute the growth rates?