Economics questions:

1. Solow model in continuous time. Consider the Solow model in continuous time with pro duction function y = fEk} satisfying the usual properties, constant savings rate .5, depreciation rate 1'5, productivity growth 5; and employment growth 11. (a) Use the implicit function theorem to show how an increase in s affects the steady state val ues k\2. Natural resource depletion in the Solow model. Consider a Solow model where output is given by the CBS production function Y\") = K}\"R[t)[A[t}L(t}}l'\", [II a: the