Assume the economy is in a steady-state for all of the following questions. a. In a steady-state, we know that s f (k) = (6 + n + g)k. By rearranging this equation, we can prove that O sf = 6 + n + g; so saving is a function of depreciation and the growth rates of population and technological progress. 0 g = 6+:+g; meaning the capital-output ratio is constant. O f = \"n+3; so the production function is constant and does not exhibit diminishing returns. S b. In the Solow model with technological progress, capital's share of income is - , and labor's share of income is - . constant constant decreasing increasing increasing decreasing c. In the Sol chnological progress, total capital income and total labor income grow at a rate of: l c. In the Solow model with technological progress, total capital income and total labor income grow at a rate of: ' d. In the Solow model with technological progress, the real rental price of capital grows at a rate of v , and the real wage grows at a rate of v . (Hint: The real rental price of capital equals total capital income divided by the total capital stock, and the real wage equals total labor income divided by the labor force.) Xnip #3 d. In the Solow model with technological progress, the real rental price of capital grows at a rate of , and the real wage grows at a rate of (Hint: The real rental price of capital equals total c 8+n+g vided by the total capital stock, and th n ls total labor income divided by the labor force.) zero zero g 8+n+g n g n+g n+g