Mexico's real gdp was 1,761 billion pesos in 2005 and 1,822 billion pesos in 2006. mexico's population growth rate in 2006 was 1.5 percent. calculate mexico's economic growth rate and growth rate of real gdp per person in 2006.

The economic growth rate of Mexico in 2006 was 3.46%

Growth rate of real GDP per person =1.96%

Explanation:

In order to find the economic growth rate we will use the formula

(Real GDP in 2006-Real GDP in 2005)/Real GDP in 2005

(1822-1761)/1761

=61/1761=0.034=3.46%

The real GDP growth per person growth rate can be calculated by

(2006 Economic growth rate- Population growth rate)

3.46-1.5=1.96

Multiply, 3.

Explanation:

If he says his business will sell three times as much then the logical thing to do to meet the demand is to multiply his recipes by 3.