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Suppose the production of a country is Y equals K to the power of 0.2 end...

Suppose the production of a country is Y equals K to the power of 0.2 end exponent left parenthesis E L right parenthesis to the power of 0.8 end exponent. And its depreciation rate is 0.07, population growth rate is 0.02, technology growth rate is 0.01, saving rate is 0.30. (a) What is the long-run growth rate of per worker output? (Enter decimals. Numbers only) 0.01 (b) What is the long-run growth rate of aggregate output? (Enter decimals. Numbers only) 0.03 (c) (Fill in blanks) If the government want to increase the per-effective-worker consumption permanently, government should (increase/decrease) saving rate to . This new saving rate should be decimals. Round up to TWO decimals if needed.

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