Growth Model Economy Nearly all of the problems below refer to this Growth Model Economy. A small amount and a large amount of capital is referred to in these problems. The value for the small amount is 7,700 units and the large amount is 77,000,000

Consider an economy where there are 2,592 agents, each of them having one unit of available time to labor. There is no government. There is a representative firm that has a Cobb-Douglas production technology that creates output (or income) following the form of Y = zK^aN^1-a. The depreciation rate is 4.9%, the population of agents grows at 3.2% and the capital share of income is given as (a=0.318). This economy saves 33.4% of its income and total factor productivity is 5.7.

Suppose the Growth Model Economy above has a small amount of capital. (Small is defined above.)

a)How much investment took place?

b)How much depreciation took place?

c)What is the level of capital next period?

d)What is the level of output this period?

e)What is the level of output next period?

f)What is the level of capital per agent in this period?

g)What is the level of capital per agent next period?

h)What is the level of GDP per capita this period?

I) Calculate the growth rate for GDP per capita. (Answer the number before the percent point. Ex. If you found the growth rate to be 0.052589 or 5.2589%, enter 5.2589.)