Assume that a country's production function is Y = K^1/2L^1/2.

1) What is the per-worker production function y = f(k)?

2)Assume the country possesses 810,000 units of capital and 360,000 units of labor. What is Y? What is the labor productivity computed from the per worker production function?

3)Assume that 5 percent of the capital depreciates each year. What gross saving rate is necessary to make the given capital-labor ratio the same as the steady state capital-labor ratio?

4)If the saving rate equals the steady state level, what is consumption per worker?