Y=√K √AN, where K is capital, N is labor, A is the state of technology, and AN denotes the amount of effective labor in the econom Suppose that the saving rate, s, is equal to 13%, and that the rate of depreciation, 8, is equal to 9%. Suppose further that the number of workers, gn, grows at 2% per year and that the rate of technological progress, 9A, is 4% per year. Given the values of the economy, compute the following: The steady-state value of the capital stock per effective worker is. (Round your response to two decimal places.) The steady-state value of output per effective worker is (Round your response to two decimal places.) The steady-state value of the growth rate of output per effective worker is%. (Enter your response as an integer. The steady-state value of the growth rate of output per worker is%. (Enter your response as an integer.) he steady-state value of the growth rate of output is%. (Enter your response as an integer.) Suppose that the rate of growth of workers doubles to 4% per year. Recompute the steady-state values. The steady-state value of the capital stock per effective worker is. (Round your response to two decimal places. (Round your response to two decimal places.) he steady-state value of output per effective worker is The steady-state value of the growth rate of output per effective worker is%. (Enter your response as an integer he steady-state value of the growth rate of output per worker is%. (Enter your response as an integer.)

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Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.