In this question we evaluate the stead}.I state predictions for the Solow model assuming variations in both investment rates {y} and population growth rates [n] [a] First assume the production function is y = Akl" and the investment rate, depreciation rate and population growth rates are denoted by riand n respectively. Solve for the steady state level of y. [b] Now assume two countries have the same A and d but diiferent y [n and Ti\") and n {in-and m]. 1Fi'ii'rite down the expression for the ratio oftheir steam].F state it and y respectively.(ie solve for a simplied expression where some of the terms cancel each other oft]. Table 1: Country i K /KUSA W/yUSA Vi actual yUSA Honduras 0.19 0.05 0.04 0.10 Guatemala 0.12 0.05 0.03 0.20 El Salvador 0.10 0.05 0.02 0.17 USA 0.23 0.05 0.01 1.00 (c) Table 1 contains data on investment rates, population growth rates. depreciation rates for a few countries. Calculate the ratio of each country's steady state & and y relative to the US steady state y based on part b. Compare your calculations to the actual y of each country relative to the US (provided in the last column). What do you find