Question: Derive the steady-state population size: t+1 = t = ss , the steady-state land per capita: t+1 = t = ss and the steady-state income

Derive the steady-state population size: t+1 = t = ss , the steady-state land per capita: t+1 = t = ss and the steady-state income per capita: yt+1 = t = ss?

Starting at the steady-state solution, explain the short-run and the long-run effects resulting from a one-time permanent reduction in y.

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