1) From 2006 to 2010, per capita real gross domestic product (GDP) in Poland grew an average of 4.71% per year. At that rate, according to the Rule of 70, in roughly how many years will the Polish economy double in size?
2) James has worked for the same company his entire life. His current income is $100,000 per year. When he was originally hired, he made $50,000 per year. The company has given James a consistent raise of 2% every year. How long has James been with the company?
3) In 1998, per capita real gross domestic product (GDP) in Thailand was $4,444.19. By 1999, it had increased to $4,695.22. At what rate did Thailand’s economy grow in that time?
4) From 2009 to 2010, per capita real gross domestic product (GDP) in the United States grew by 1.8%. Given that prices increased by 1% and the population grew by 1%, at what rate did the nominal GDP grow?