The following table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the World Bank, World Development Indicators, for the past few decades.

Average annual growth rate of real GDP per capita Years Argentina Ghana _South Korea 1965-1975 | 1.92% 1.13% 8.29%

1975-1985 | -1.42 -2.29 7.08 1985-1995 154 1.70 8.06 1995-2005 114 2.16 4.28 2005-2015 3a LS 3.02

a. For each 10-year period and for each country, use the Rule of 70 where possible to calculate how long it would take for that country’s real GDP per capita to double.

b. Suppose that the average annual growth rate that each country achieved over the period 2005-2015 continues indefinitely into the future. Starting from 2015, use the Rule of 70 to calculate, where possible, the year in which a country will have doubled its real GDP per capita.