Question: 3] Labor force participation in the Solow model a] Write down a version of the Solow growth model in which the labor force is a
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3] Labor force participation in the Solow model a] Write down a version of the Solow growth model in which the labor force is a fraction 6 of the population. For simplicity, assume no population growth. b] Suppose 6 grows at a constant rate, 6 . How does this steady increase affect the growth rate of per capita income? c] Briey explain how your answer to part (b) may help explain high growth rates in some developing countries. Why is this source of growth necessarily temporary? Graphically depict the transition from a positive 9.9 to zero labor force participation growth
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