According to the Solow–Swan model, if the saving rate rises, then: a. steady state per capita income falls b. per capita income falls c. steady state per capita income rises d. steady state per capita income is unaffected

An economy's production function as follows Y = 8 (K)¹/2 (EL)¹/2 If depreciation rate is 10%, population growth rate is 4%, tech progress grows 6%, and saving rate is 20%. a. b. C. d. e. f. Write production function in term of per effective worker variables. Find steady state capital per effective worker, output per effective worker, consumption per effective worker, investment per effective worker. Find growth rate of capital per worker and output per worker at steady state. Find growth rate of capital stock and total output at steady state. Propose policies to encourage long run growth of total output and living standard? Draw relevant graph for the above questions.

The Solow Growth Model is a model that is often used to explain the theoretical relationship between several factors that determine a country's economic growthcountry.(a) Explain what you know about the Solow Growth Model and what are the most important determinants of a country's long-term growth rate?(b) Within the framework of the Solow Growth Model, how does population growth affect a country's economic growth rate?(c) Still within the framework of the Solow Growth Model, how does technological progress affect a country's growth rate?

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