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10. Consider the following version of Solow's model of economic growth with no population growth and no technological progress: o y: = kg ' i3r

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10. Consider the following version of Solow's model of economic growth with no population growth and no technological progress: o y: = kg\" ' i3r = {1 3h\": ' it = 51": ' kH-I. = kt + 33": {1'1 + '5')": I s = 0.20 I E = 0.05 I 11 = 0.00 a. If capital per worker {kl is 9.0 at time 0 [kg = 9.0], what will capital per worker he at times 1. 2, and 3? What will income per person M be at times 0, 1, 2, and 3? b. What is the steady-state value of capital per worker {k*) for this economy? c. When capital per worker reaches its steady-state value, what will income per person {0], consumption per person [5}, and investment per person {i} be? d. If the savings rate is} doubles from 0.20 to 0.40, what will the new steady-state value of capital per worker be? e. In the new steady-state, what will v, c, and i be

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