Question: (5 points) Consider the recursion us = 3ut1 - b. (a) Find the value of b such that the equilibrium solution of this recursion is

(5 points) Consider the recursion us = 3ut1 - b. (a)

(5 points) Consider the recursion us = 3ut1 - b. (a) Find the value of b such that the equilibrium solution of this recursion is @ = 500. (b) Using the value of b you found in question (a), make a change of variables and show how this change transforms the affine geometric recursion u; = 3u;_; b to a geometric recursion of the form v; = Avy_1

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