Start by graphing the U.S. steady state capitallabor ratio and label it (draw only the investment and the depreciation and capital dilution curves).

a) On the same graph show the effects of the following:

● The massive immigration wave of the early 1900s k1900

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● The increase in productivity derived from new technologies that occurred at the same time

b) Find the new steady state capital-labor ratio considering that output per worker in the United States grew at a positive rate between 1900 and 1910 and label it . k1910 ss Summing up the Solow Model