2. The following table provides approximate statistics on per capita income levels and growth rates for regions defined by income levels. According to the Rule of 70, starting in 2018 the high-income countries are projected to double their per capita GDP in approximately 70 years, in 2088. Throughout this question, assume constant growth rates for each of the regions are equal to their average value between 2000 and 2018. Region Real GDP per Average annual growth rate of real GDP per capita (2018) capita (2000-2018) High-income US$43,559 1.0% countries Middle-income 5,149 3.6 countries Low-income 740 2.1 countries Data from: World Bank. a. Calculate the ratio of per capita GDP in 2018 of the following: i. Middle-income to high-income countries ii. Low-income to high-income countries iii. Low-income to middle-income countries b. Calculate the number of years it will take the low-income and middle-income countries to double their per capita GDP. c. Calculate the per capita GDP of each of the regions in 2088. (Hint: How many times does their per capita GDP double in 70 years, the number of years from 2018 to 2088?) d. Repeat part a with the projected per capita GDP in 2088. e. Compare your answers to parts a and d. Comment on the change in economic inequality between the regions.6. The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita (2010 U.S. dollars) in France, Japan, the United Kingdom, and Canada in 1970 and 2019. Complete the table. Have these countries reduced the income gap with Canada? 1970 2019 Real GDP per Percentage of Real GDP per Percentage of capita (2010 Canada's real capita (2010 Canada's real U.S. dollars) GDP per capita U.S. dollars) GDP per capita France $1,985 $44,317 Japan 18,700 49,188 United 17,923 43.688 Kingdom Canada 22,844 51,589