Q4 [21] points} Assume that a country's production function is 3;: = til-3, in which 3;; and it, are output per worker and capital per worker. The ratio of capital to output is 3 and the depreciation rate is 5 percent. [a] {5 points] If the economy is in steady state, what is the savings rate? (Hint: start by writing down the steadystate equation I] = $39; = ....] [h] {5 points] [using the saving rate you found in part {a}] Calculate the steady state value of capital per worker, output per worker, and consumption per worker. [c] (5 points] Suppose the saving rate is s = [1.3. Find the steady state values of capital, output, and consumption per worker. [d] [5 points} Suppose the savings rate is s 2 (LT. Find the steady state values for capital, output, and consumption per worker. 1What do you notice?' Is a higher savings rate always better