This is a macroeconomics question.

2.2 Golden rule Consider the Solow model we analyzed in class, which had an investment share a, depreciation rate d, population growth rate 11, and production function Y: = AKf'NE'\". whereA>0and0 sgnld, suppose that the investment share is permanently reduced to agold. What are the transitional dynamics of con- sumption per capita from the initial steady state to the new one? Explain with words and a gure. (d) H households prefer more consumption to less, would they every prefer to live in an economy with a > agold? Use your answer from part (c) to explain. (e) Would households ever prefer to live in an economy with s <: explain with words and a gure>