If the per-worker production function is y = Ak, where A is a positive constant, in the steady state, a: A. lower saving rate does not affect the growth rate. OB. higher saving rate does not affect the growth rate. C. lower saving rate leads to a higher growth rate. OD. higher saving rate leads to a higher growth rate. QUESTION 22 If the marginal product of capital net depreciation equals 8 percent, the rate of growth of population equals 2 percent, and the rate of labor-augmenting technical progress equals 2 percent, to reach the Golden Rule level of the capital stock, the, rate in this economy must be OA saving; increased OB. population growth; decreased OC.depreciation; decreased D. total output growth; decreased QUESTION 28 If the production function is y = k1/2, the steady-state value of y is: OA. y = ((s + g)/( + n)) 1/2 O B.y (s+g)/( + n). OC.y = (2/(+n+g)) 1/2 OD. y=s/(+n+g). QUESTION 26 If Y is output, K is capital, u is the fraction of the labor force in universities, L is labor, and E is the stock of knowledge, and the production Y = F(K,(1 - u) EL) exhibits constant returns to scale, then output (Y) will double if: A. K is doubled. B. K and u are doubled. C. K and E are doubled. D. L is doubled. QUESTION 3 Exhibit: Output, Consumption, and Investment B f(k) sf (k) F A k In this graph, when the capital-labor ratio is OA, AB represents: A. investment per effective worker, and AC represents consumption per effective worker. B. consumption per effective worker, and AC represents investment per effective worker. C. investment per effective worker, and BC represents consumption per effective worker. D. consumption per effective worker, and BC represents investment per effective worker.