Suppose that an economy's aggregate production function is Y = It""(11i'\\f)1'Cl for 0

Suppose that an economy's aggregate production function is Y for O < a < 1, where Y is aggregate output, K is capital, N is labour, and A represents the technology level of the economy. Suppose further that the capital stock depreciates at rate 5, that the labour force grows at rate gn, and that technological progress grows at rate ga. Households also save a proportion s of their disposable income. Suppose the economy is at its long-run equilibrium growth rate. Describe in words and illustrate graphically the impact both transitionally and in the long-term of a sharp increase in the rate of population (i.e. labour force) growth from gn to