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Question 1 Growth Suppose that the economy's production function is: Y = KP 35(A, N. )0.65 and that the saving rate (s) is equal to

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Question 1 Growth Suppose that the economy's production function is: Y = KP 35(A, N. )0.65 and that the saving rate (s) is equal to 10% and that the rate of depreciation () is equal to 2%. Further, suppose that the number of workers grows at 5% per year and that the rate of technological progress is 1% per year. a. Find the steady-state values of: . capital stock per effective worker. . output per effective worker. . consumption per effective worker

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