[Related to the Making the Connection on page 811] In 2014, real GDP per capita in Mexico increased by 0.9 percent. A Mexican economist was quoted in an article in the Wall Street Journal as saying,...

[Related to the Making the Connection on page 811] In 2014, real GDP per capita in Mexico increased by 0.9 percent. A Mexican economist was quoted in an article in the Wall Street Journal as saying, “It’s clearly insufficient if we want to significantly reduce poverty and move Mexico toward a middle-class country.” a. Given that growth rate, how long would it take the standard of living of the average person in Mexico to double? b. Why isn’t the Mexican economy growing more rapidly?