Question 3 Consider the following data Country 197 SK Ago United States 1.000 0.204 11.9 0.010 1.000 Canada 0.864 0.246 11.4 0.012 0.972 Argentina 0.453 0.144 8.5 0.014 0.517 Thailand 0.233 0.213 6.1 0.015 0.468 Cameroon 0.048 0.102 3.4 0.028 0.234 Remember that the "hat' variables are variable values relative to the US. Assume that g + 6 = 0.075, a = , p = 0.10 for all countries. Estimate the steady-state incomes of these economies relative to the US. Consider the following two cases: The 1990 TFP ratios are maintained The TFP levels converge completely For each case which economy will grow the fastest in the next decade and which slowest? Why