2) Consider an economy with the production function: Yl = 4(K'Nl )0 5 . Suppose the depreciation rate is 8%, the labor force growth rate is 2%, and the saving rate is 15%. (Total 10 points) a) Calculate the steady-state per worker capital, per worker output, and per worker consumption. (3) b}- Suppose while the economy is in the steady-state equilibrium, from part (a), the saving rate jumps to 25%. Calculate per worker consumption, again, with the new saving rate. (3) c) If the saving rate goes up, do you expect the consumption to go up or down. Draw the time line showing how per worker consumption Changes over time from the initial to new steady state equilibrium points {with values), if the change in saving rate happens at time to. Explain the impacts. (4)