Now we are going to turn to looking at indicators of economic growth for each country. Start off by converting GDP, gross capital formation, and gross savings (which are all in current US$) into constant or real US$ using the Consumer Price Index (CPI). Next, create indicators for GDP per capita, production (GDP) per worker (labor force), capital (gross capital formation) per worker (labor force), and savings (gross savings) per worker (labor force).

8. For each country, calculate the annual GDP growth rate (the percentage change in GDP from one year to the next). Then take the average growth rate for each country. What is each country's average rate of GDP growth from 2001 to 2021? Create a scatter plot for each country in which you graph production per worker (x-axis) in relation to capital per worker (y-axis) and also production per worker (x-axis) in relation to savings per worker (y-axis). To each country's scatter plot, add two linear trendlines, one for each grouping of data, and have Excel display both equations on the chart.

9. Looking at the two trendlines, which country is increasing capital per worker (relative to production per worker) at a higher rate?

10. Looking at the two trendlines, which country is increasing savings per worker (relative to production per worker) at a higher rate?

11. Based on your understanding of sources of growth, what are the key characteristics of these two countries that you think explain why they find themselves at their current income levels?

A B C D E F G H K Country Na Country Co Series Name 1990 [YR19 1991 [YR19 1992 [YR19 1993 [YR19 1994 [YR19 1995 [YR19 1996 [YR19 1997 [YR19 Benin BEN Expected years of schooling (years) 5.3 5.4 5.5 5.7 5.8 5.9 6 6.1 Mexico MEX Expected years of schooling (years) 10.6 10.5 10.5 10.4 10.5 10.7 10.8 11 Miniumum MIN Expected years of schooling (years) 2.1 2.1 2.2 2.3 2.3 2.4 2.5 2.6 Maximum MAX Expected years of schooling (years) 17.4 17.3 17.3 17.3 17.3 18.8 19.4 20.2 Benin BEN GDP (constant 2010 US$) 3.03E+09 3.16E+09 3.26E+09 3.45E+09 3.51E+09 3.73E+09 3.89E+09 4.11E+09 Mexico MEX GDP (constant 2010 US$) 6.54E+11 6.82E+11 7.06E+11 7.19E+11 7.55E+11 7.07E+11 7.55E+11 8.07E+11 Benin BEN GNI (constant 2010 US$) 2.97E+09 3.11E+09 3.13E+09 3.38E+09 3.44E+09 3.65E+09 3.81E+09 4.05E+09 Mexico MEX GNI (constant 2010 US$) 6.34E+11 6.64E+11 6.88E+11 7.03E+11 7.37E+11 6.82E+11 7.3E+11 7.87E+11 Miniumum MIN GNI per capita (constant 2010 US$) 366 373 334 294 229 213 226 432 Maximum MAX GNI per capita (constant 2010 US$) 100233 95458 92326 91853 96179 100767 101093 103349Q R S T 0 P K M N C D E F G H B 2001 [YR200 2002 [YR200 2003 [YR200 2004 [YR200 2005 [YR200 2006 [YR200 2007 [YR200 2008 [YR200 2009 [YR200 2010 [YR201 2011 [YR201 2012 [YR201 2013 [YR201 2014 [YR201 2015 [YR201 2016 [YR201 2017 [YR201 51.8 52.2 A 48.3 49 49.8 50.6 51.4 45.5 46.2 46.9 47.6 1.4 1.5 1.5 39.7 40.7 41.7 42.7 43.6 44.6 1.4 Country Name Country Code Series Name 1.3 1.3 1.4 1.4 1.4 1.4 1.4 1.3 4.9 4.9 4.9 4.9 4.9 2 Miniumum MIN Life expectancy at birth, total (years) 1.1 1.2 1.2 1.3 1.3 3.8 3.9 4.2 4.4 4.7 4.9 4.9 327 305 294 286 3 Miniumum MIN Mean years of schooling (years) 3.1 3.4 3.6 2.9 306 305 312 313 319 325 MIN Expected years of schooling (years) 292 294 291 301 84.1 300 83 83.1 83.3 83.5 83.6 83.8 84 4 Miniumum 306 14.1 Miniumum MIN GNI per capita (constant 2015 US$) 302 82.4 82.6 82.7 82.8 82.3 14 14 14.1 14.1 81.4 81.7 81.9 82.1 13.7 13.7 13.8 13.8 13.9 14 Life expectancy at birth, total (years) 13.3 13.6 20.3 20.4 20.4 23.3 22.9 22.9 6 Maximum MAX 12.7 12.7 12.8 12.9 19.5 19.3 20.3 19.8 20.1 105,672 20.6 20.7 20.3 19.2 111,662 Maximum Mean years of schooling (years) 105,508 20.3 105,672 MAX 86,768 83,863 85,082 84,758 103.42 8 Maximum MAX Expected years of schooling (years) 20.1 84,697 81,612 81,331 82,864 85,126 96.87 98.29 99.88 100.00 101.26 76,089 78,846 79,904 92.00 94.90 9 Maximum MAX GNI per capita (constant 2015 US$) 76,771 75.89 79.69 82.40 85.05 87.48 90.84 90.52 77.61 8.74 10 United States USA Consumer price index (CPI) 74.71 8.36 8.40 8.60 8.60 8.14 8.01 8.25 8.49 14.04 14.20 14.81 7.49 7.87 7.88 7.95 13.87 14.64 11 6.82 6.98 7.13 7.29 13.40 13.44 13.70 12.91 13.03 13.21 13.27 2.8 3.2 3.3 12 Mexico MEX Mean years of schooling (years) 12.03 12.37 12.65 12.75 12.80 2.8 2.8 2.7 2.8 2.8 2.8 2.8 2.7 11.4 12 12.6 12.6 11 13 Mexico MEX Expected years of schooling (years) 2.4 2.5 2.6 2.6 2.7 8.7 9.1 9.5 9.9 10.3 10.6 14 Benin BEN Mean years of schooling (years) 6.3 6.5 6.7 7.4 7.9 8.3 15 Benin BEN Expected years of schooling (years) 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38