In this question we evaluate the steady state predictions for the Solow model assuming variations in both investment rates [y] and population growth rates (n) [a] First assume the production function is y 2 AW!\" and the investment rateI depreciation rate and population growth rates are denoted by riand 11 respectively. Solve for the steady state level of y. [b] Now assume two countries have the same A and 5 but different y [1&- and 11;] and I: [Hi and n1]. Write down the expression for the ratio of their steady state k and y respectively.(ie solve for a simplied expression where some of the terms cancel each other off]. Table 1: Country E k: 20050314 1!: {Firs}. a?\"*\"\"';'v\"i Honduras 0.19 0.05 0.04 0.10 Guatemala 0.12 0.05 0.03 0.20 El Salvador0.10 0.05 0.02 0.1?r USA 0.23 0.05 0.01 1.00 [c] Table 1 contains data on investment rates, population growth rates, depreciation rates for a few countries. Calculate the ratio of each country's steady state i: and y relative to the US steady state y based on part b. Compare your calculations to the actual y of each country relative to the US [provided in the last column}. What do you nd