Suppose the production of a country is. And its depreciation rate is 0.07, population growth rate is 0.02, technology growth rate is 0.01, saving rate is 0.30.

Answer the following questions.

(a)What is the long-run growth rate ofperworker output?(Enter decimals.Numbers only)

(b)What is the long-run growth rate ofaggregateoutput? (Enter decimals.Numbers only)

(c)(Fill in blanks) If the government want to increase the per-effective-worker consumption permanently,governmentshould(increase/decrease)saving rate to. This newsaving rate should be decimals. Round up to TWO decimals if needed.

Suppose the production of a country is Y = Ko'2iEL)D'8. And its depreciation rate is 0.01 population growth rate is 0.02, technology growth rate is 0.01, saving rate is 0.30. Answer the following questions. (a) What is the longrun growth rate of per worker output? [Enter decimals. Numbers only) (b) What is the longrun grotvth rate of aggregate output\"? (Enter decimals. Numbers only) (c) (Fill in blanks] It the govemment want to increase the pereectivewonier consumption permanently, government should (increaseidecrease) saving rate to . This new saving rate should be decimals. Round up to TWO decimals if needed