Question 1 Consider an economy that has the following production function: Y = zF(K, N) = K1/3N2/3 where Y, z,K and N denote output, total factor productivity, capital stock and labour employment respectively (2 = 1 for simplicity). Assume the depreciation rate d = 0.18, saving rate 5' = 0.2, and population growth rate 11 = 0.02. a) Write down the production function in per worker terms. (1 mark) b) Calculate capital, income and consumption per capita in the steady state. Use a diagram to illustrate your answer. (2 marks)