(a) (8 points) Suppose the production function is described by Y 2 AK 1/ 3152/ 3, the savings rate is E, and the depreciation rate is d. i. Write down the capital accumulation equation. ii. Write down the steady state condition. iii. What are steady state expressions for ME Y/L) and k(E K/L). (b) (8 points) Consider the following data for Honduraas in 2015 (same as in the previous question) Country GDP {$ mill.) Capital ('5 mill) Labor Force (mill) E d Honduras 36770 138000 4 0.24 0.06 Using the necessary numbers from above and whatever other calculations you may need to do, derive the steady state value of Hondura's GDP per worker. (c) (4 points) Based on your answer} should the growth rate of Honduras in 2015 be positive or nega tive