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1. Human Capital in the SolowSwan Model: Suppose that the production function in the BelowSwan model is given by ya) = AK{t)QH(t)AL[t)1_'1_A where Y is

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1. Human Capital in the SolowSwan Model: Suppose that the production function in the BelowSwan model is given by ya) = AK{t)QH(t)AL[t)1_'1_A where Y is output1 A is technology, K is physical capital, H is human capital, and L is labour. Assume that U 5 a g 1, 0 E A 5 1,0: + A 0. Output can be converted onetoone into either investment in physical capital or human capital. Saving directed towards investment into physical capital is given by D

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