The Treasury is currently estimating the growth level for Australia. They are concerned about population growth and they have ask you to help them to prepare a report that accounts for an increase in the population size over time. You remember your time at UNSW and decide to use the Solow-Swan model to prepare your report. The ABS forecast that population will growth at a constant rate n, where n > 0. When this assumption is made, the capital accumulation equation (in per capita terms) assumes the following format: kt = syt (n + )kt, where s is the savings rate and 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