Consider an economy that is described by the solow growth model with the following production function: y = ak^1/3l^1/3. assume there is no population growth or technological progress. suppose the economy starts in steady state. by what proportion will per capita gdp change in the long run in response to each of the following changes?
(a) the saving rate increases by 50%.
(b) an earthquake destroys 75% of the capital stock.
(c) a more generous immigration policy leads the population to double.

Draw a flowchart for a process of interest to you, such as a quick oil-change service, a factory process you might have worked in, ordering a pizza, renting a car or truck, buying products on the internet, or applying for an automobile loan. identify the points where something (people, information) waits for service or is held in work-in-process inventory, the estimated time to accomplish each activity in the process, and the total flow time. evaluate how well the process worked and what might be done to improve it.