Question: PART B: Short Questions Short Question 1: (16 points) Consider the standard Solow model. Output per worker and the dynamics of capital per worker are

PART B: Short Questions Short Question 1: (16 points) Consider the standard Solow model. Output per worker and the dynamics of capital per worker are given by the following expression: y = Ak Ak = sy - 6k where o > 0 is the depreciation rate of capital. (a) Using a Solow diagram, show the steady state level of capital per worker. (label the x- axis and functions that you plot and mark the steady state level of capital per worker) (5 points)

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