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answer me quickly 1. Consider an economy with a capital accumulation equation K = sY/* - 5K, where K is capital stock and Y is

answer me quickly

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1. Consider an economy with a capital accumulation equation K = sY/* - 5K, where K is capital stock and Y is output, s, o and a are exogenous parameters. Suppose the economy operates a Solow technology with a production function Y = K* (A.N)1-" where 0 a > 0 is an exogenous parameter. Suppose both the Malthus technology and the Solow technology are available at any point in time. [You do not have to solve the full model.] (i) (5 marks) Show the time path of y predicted by this model is consistent with the time path of income per capita since industrialization. Explain your answer. (ii) (4 marks) Show that the income ratio predicted by this model is consistent with the time path of cross-country income difference since industrialization. Explain the key difference between this model's predictions and those in part (c)

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