Endogenous Growth 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 t is given by: Y - 100u,H. where H is the human capital level of a person at the beginning of period t and a is the time spent working in period t. Let Hy - 1. The human capital level at the beginning of period 0. 1= What is the economy wide human capital growth rate between periods 0 and 17 2- Now suppose at the beginning of period 2. the goverment 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 u, goes down to 0.6. Calculate per person consumption for periods 2 and 3