Suppose an economy's real GDP is $32,000 in year 1 and $34,200 in year 2. What is the growth rate of its real GDP? Instructions: Round your answers below to two decimal places. The growth rate of the economy's real GDP = % Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? The growth rate of the economy's real GDP per capita = %What annual growth rate is needed for a country to double its output in each of the following cases? Instructions: Round your answers to two decimal places. In 14 years: 96 In 10 years: 96 In 20 years: % 96 In 50 years: Assume that a \"leader country" has real GDP per capita of $40000, whereas a \"follower country\" has real GDP per capita of $20,000. Next, suppose that the growth of real GDP per capita falls to 0 percent in the leader country and rises to 7 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country? years