Consider an economy with total population of 100. Each individual in this economy accumulates human capital. . Each period, a person has one period of time to split between work and human capital accumulation. . Initially, each person devotes 0.8 units of time to working each period. . The efficiency parameter of human capital accumulation technology is 10. . Aggregate output in period is given by Yt = 10Out Ht, where is the human capital level of a person at the beginning of period H, and is the time spent working in period . . Let Ho = 1. The human capital level at the beginning of period is given by where is the efficiency parameter. 1. What is the economy wide human capital growth rate between periods 0 and 1? 2. Now suppose at the beginning of period 2, the government introduces a policy that raises the efficiency of the human capital accumulation technology to 14. However, since this policy was financed by taxing labour income, the per worker hours ut goes down to 0.6. Calculate per person consumption for periods 2 and 3