The Treasury is currently estimating the growth level for Australia. They are concerned about population growth, and they have asked you to help them to prepare a report that accounts for an increase in the population size over time. You remember your time at USYD and decide to use the SolowSwan model to prepare your report. The ABS forecast that population will growth at a constant rate 71, where n > 0. When this assumption is made, the capital accumulation equation (in per capita terms) assumes the following format: Alf; = 91,; (n + irt, where sis the savings rate and (5 is the capital depreciation rate. In your report you need to answer the following questions: 1. Find the steady-state level of income per capita assuming the production function follows the standard Cobb- Douglas production function. Show your work, step-by-step. 2. In 2020, Australia had a GDP per capita level of around $48,679 while Algeria's was about $10,735. Using the result you found in (1), give two reasons that could explain why this difference exists. 3. Ceteris paribus, what happens to the level of income per capita at the steady state when n increases. Explain why (intuitively) using 1-2 sentences