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Mexico's real GDP was 14,462 billion pesos in 2016 and 14,703 billion pesos in 2017. Mexico's population was 122 million in 2016 and 122.5 million

Mexico's real GDP was 14,462 billion pesos in 2016 and 14,703 billion pesos in 2017. Mexico's population was 122 million in 2016 and 122.5 million in 2017. Complete the questions below, fully showing your work and explaining your answers.

a)What is the growth rate of real GDP?

b)What is the growth rate of real GDP per person?

c)Explain what is happening to the Standard of Living in Mexico.

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