question 3

a.in the Solow Model, the rate of technological progress is assume to be exogenous. what does this mean

b. Distinguish between embodied technological progress and disembodied technological progress

c. Give an example of a cobb-douglas production function that exhibits the following types of technological progress: purely labour augmenting, and purely capital augmenting, and equally capital and labour agumenting

d. consider an economy with a labour-augmenting technological progress. the economy has a cobb-douglas production function in which share of capital in output is 0.4 while the share of effective labour in output is 0.6. the economy has a saving rate of 28%,the labour force is growing at 3% per year,the rate of technological progress is 2% per year and the depreciation rate is 2% per year. what are the steady state values of percapita stock,per capita output level and per capita consumption (assume the initial value of the technological parameter is 1)