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2. (35 pts.) The Immigration Ban. On Wednesday. April 22, President Trump signed a proclamation suspending entry into the United States of "certain immigrants who present risk to the U.S. labor market during the economic recovery following the COVlD-19 outbreak." a. (7 pts.) Working with our model developed in Chapter 3 (short-run). carefully explain the impact of Trump's immigration ban on the real wage - if at all. Please carefully present your answer with a graph or explain supply and demand responses in the relevant market(s). b. (7 pts.) Working with Our model developed in Chapter 3 (short-run). carefully explain the impact of Trump's immigration ban on the real rental rate of capital - if at all. Please carefully present your answer with a graph or explain supply and demand responses in the relevant market(s). c. (7 pts.) Assuming that the real rental rate of capital in the US was equal to the world real rental rate of capital before the immigration ban, do you expect capital to flow in or out of the US after the immigration ban? Please carefully present your answer with a graph or explain supply and demand responses in the relevant market(s). d. (7 pts.) In the long-run, the US economy is on a balanced growth path. The immigration ban is expected to slow down the growth rate of the population by 1 percent point. Carefully explain the impact of Trump's immigration ban on the growth rate of the real wage in the long-run- if at all. e. (7 pts.) In the long-run (the US is on a balanced growth path) carefully explain the impact of Senator Elizabeth Warren's Wealth Tax plan on the real rental rate of capital in the US (if at all). If the savings rate is 20 percent, what is the change in the real rental rate of capital (if any) in the long-run