a. Brazil's real GDP was 1,180 trillion reais in 2013 an d 1,202 trillion reais in

2014. Brazil's population was 198 million in 2013 and 200 million in 2014.

Calculate:

i. The growth rate of real GDP.

ii. The growth rate of real GDP per person.

iii. The approximate number of years it takes for real GDP per

person in Brazil to double if the 2014 growth rate of real GDP

and the population growth rate are maintained.

b. The IMF projected the China's real GDP per person will be 20,040 yuan in

2020 and 21, 010 yuan in 2016 and that India's real GDP per person will be

64, 085 rupees in 2020 and 66,840 rupees in 2016. By maintaining their

current growth rates, which country will be first to double its standards of

livings?

c. The Asian Development Bank reported that Myanmar's GDP growth

accelerated to 7.5% in 2013 from 7.3% in 2012. Growth was supported by

rising investment, improved business confidence, commodity exports, and

buoyant tourism. Is this expansion more likely to be a business cycle

expansion or economic growth? Explain your answer.