ECO 212 (D. ANDOLFATTO) Name: QUIZ 4: PRACTICE FEBRUARY 29, 2024 Keep your answers short and to the point. Do not answer what is not asked. Please print clearly. 1. Draw a diagram with time on the x-axis and real per capita income on the y-axis. Consider two economies each beginning in a steady-state with real per capita income y*. One economy is Malthusian. The other is Solowian. Trace out the dynamic response of yt for each economy when there is a permanent increase in labor productivity. Y y* malthus Solow 2. What explains the different trajectories for yt above? Yt time