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Use the following production function and parameters in the Solow growth model Y = 4 K 1 4 ( A L ) 3 4 ;

Use the following production function and parameters in the Solow growth model
Y=4K14(AL)34; population growth rate is 2.3%; saving rate is 27%; depreciation rate is 7.6%, and technological progress is 1.1%.
7. Actual investment exceeds breakeven investment at k=625.
8. In the transition to the golden rule capital stock, the path of consumption falls for the current generation.
9. The growth rate of (YL) in the steady state less than 3.4%.
10. For base year GDP to increase by three fold in 21 years, the constant growth rate should be 5.23%.
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