FOR EACH OF THE FOLLOWING STATEMENTS, INDICATE WHETHER THE STATEMENT IS TRUE OR FALSE AND EXPLAIN YOUR ANSWER

$1.$ You are given the following Cobb$-$Douglas production function:

$\backslash [$

Y$=$K$^\{1/4\}$ H$^\{1/3\}($A L$)^\{572\}\backslash$text $\{,\}$

$\backslash ]$

Where,

$\backslash ($ K$=\backslash )$ Physical capital; $\backslash ($ H$=\backslash )$ Human capital; $\backslash ($ L$=\backslash )$ Labour; $\backslash ($ A$=\backslash )$ Effectiveness of labour.

Given the following growth rates: Growth rate of $\backslash ($ Y$=2\mathrm{.}7\backslash \%\backslash )$; Growth rate of $\backslash ($ K$=5\mathrm{.}8\backslash \%\backslash )$;

Growth rate of $\backslash ($ H$=7\mathrm{.}2\backslash \%\backslash )$; Growth rate of $\backslash ($ L$=2\mathrm{.}8\backslash \%\backslash ).$

It can be concluded that joint contribution of Physical and Human capital contribution to the growth rate of output is $\backslash (50\backslash \%\backslash ).$

$2.$ The fiscal and monetary policy multipliers approach their limiting values of $0$ and $1$ respectively when crowding out is complete