(Solved): Make sure to draw the graphs correctly for a thumbs up. Thank you! 1. Under the assumptions of Solow ...

1. Under the assumptions of Solow's growth model, assume the economy is in a steady state. How will the steady-state levels of output and consumption per capita change in response to the following events: (a) A large part of the capital stock disappears - is "blown up", as in a war. (This is what happens in most wars, though wars kill people too.) (b) A huge refugee wave (as we see currently flowing from Ukraine): the population goes up (instantly) and then stays constant forever. (c) Technology advance: the level of the production function rises (instantly), and then stays constant forever (the A in the Cobb-Douglas production function jumps up and then stays constant). (d) An immediate and permanent fall in the savings rate. (e) The switch to bad labor-market (or other) institutions, leading only a fraction of the people to find work in any given period (thus, there is permanent unemployment). Again, the change occurs instantly. Support your answers with graphs with capital per capita on the $x$-axis and $y,i$ (investment), and $c$ on the $y$-axis.