A2: Suppose the production function of an economy is given by Y = K0'4(AL)0'6, where Y is Output, K is capital stock, L is Labor and A is technology. The savings rate is 30%, population growth rate is zero, capital depreciates at 10% per period, the growth rate of technology is 10%. The current capital per effective labor is 1. Which of the followings is/are true? a) The steady state capital of effective labor is 1.966 b) The golden rule level of capital per effective labor is higher than the steady state capital per effective labor c) The steady state output per labor is 1.310 d) Capital per person at the steady state does not grow