Would love some help with this:

Question 1: Suppose that an economy is characterizedby the following production function: Y = 3KN

Suppose that depreciation rate(Q) equals0.02and the saving rate 0.1. What is the steady state level of output per worker?

Question 2: Suppose that an economy's production function is: Y = 2KAN

and that the savings rate is 0.2 (i.e.20%), the depreciationrate is0.1 (i.e. 10%), the labour force grows by1% year, and the rate of technological progress is 0.06 (i.e.6%). What is the steady stategrowth rate of output? (Answer as decimal to 2 dp please, so the correct answer is between 0.00 and 0.09.)

Question 3: Suppose an economy is characterized by the following equations:

Price setting:P = (1+m) (W/A)

Wage setting:W =A^eP^e(1-u)

If A^e=A,P^e=P and the markup(m) is 5%. Then the natural rate of unemployment is

(a) 2.8%

(b) 3.8%

(c) 4.8%

(d) 5.8%

• For the economy in question 3.... TRUE/FALSE: the natural rate ofunemployment dependson productivitywhen expectations of both prices and productivity are accurate

Part 2:

TRUE/FALSE: A higher investment rate can sustain higher growthof output forever.

TRUE/FALSE: According to endogenous growth theory,higher levels of education lead to higher output growth rates.

TRUE/FALSE: When increases in capital per effective worker lead to smaller and smaller increases in output per effective worker we say there is diminishingreturns to capital inputs.

TRUE/FALSE: When capital and output are above above steadystate, investment will be less than depreciation and so capital will decrease.

TRUE/FALSE: Workers benefit equally from the process of creative destruction.

TRUE/FALSE: Technologicalprogress leads to a decreasein employment if and only if, the increase in output is smaller than increase in productivity