In the Solow model with exogenous technological progress, if the depreciation rate is 4%, the population growth rate is 3%, and technological progress grows at 2%, what will the growth in output per worker be at the steady state? 2% 6% 0% O 9%

ENGR.ECONOMIC ANALYSIS
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Question 8
In the Solow model with exogenous technological progress, if the depreciation rate is 4%, the
population growth rate is 3%, and technological progress grows at 2%, what will the growth in
output per worker be at the steady state?
2%
6%
O 0%
O 9%
Question 9
If output is $7500, the level of capital is 600, capital's share of total income is 0.6, and the price of
output is $4, then what is the nominal rental rate given the neoclassical theory of distribution
holds?
O $30
O $5
O $20
O $7.5
O Not enough information is given
Transcribed Image Text:Question 8 In the Solow model with exogenous technological progress, if the depreciation rate is 4%, the population growth rate is 3%, and technological progress grows at 2%, what will the growth in output per worker be at the steady state? 2% 6% O 0% O 9% Question 9 If output is $7500, the level of capital is 600, capital's share of total income is 0.6, and the price of output is $4, then what is the nominal rental rate given the neoclassical theory of distribution holds? O $30 O $5 O $20 O $7.5 O Not enough information is given
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