Problems: 1. Suppose an economy is currently in the steady state. Show in clear and well labelled labelled graph(s), the impact of (1) an increase in savings and (2) a decrease in the depreciation rate. What is the ultimate impact of these changes? 4 marks. 2. Show how consumption and savings evolve in an economy that starts with a level of capital well above its steady state using a graph with time t on the horizontal axis. 3 marks. 3. Calculate the steady state level of investment in an economy with a savings rate of 15%, population growth of -1%, depreciation of 10%, and 0:; . Show your work. 3 marks