Part C: Economic Growth For the following questions, you will need the following formula: let X, be the initial value, X, be the value after periods and g be the growth rate by period, then Xt ZXO(]. +g)t. You may also need the log properties: log(a) = blog(a) and log(ab) = log(a) + log(b). The properties imply: a. 0 log(X;) = log(X,) + tlog(1 + g) . Suppose the initial real per capita GDP for countries A and B is 7 thousand dollars. If the annual growth rates of countries A and B are respectively 3% and 5%, what is the the ratio X / X 4 after 66 years? Round your answer to the nearest first decimal. Number . Suppose the annual growth rates of countries A and B are respectively 3% and 5%. How many years it will take for each country to double their respective real per capita GDP? Round your answer to the nearest first decimal. Country A: Number Country B: Number Suppose the initial real per capita GDP of countries A, B and C are respectively 10, 10 and 50 thousand dollars. If their annual growth rates are respectively 3%, 5% and 1.0%, how many years it will take for countries A and B to converge to country C? Round your answer to the nearest first decimal. Country A: Number Country B: Number