Label each of the following statements true, false, or uncertain. Explain briefly.

a. The saving rate is always equal to the investment rate.

b. A higher investment rate can sustain higher growth of output forever.

c. If capital never depreciated, growth could go on forever.

d. The higher the saving rate, the higher consumption in steady state.

e. A lower depreciation rate leads to an upward shift in the golden-rule level of capital.

f. Slower growth in the United States in the past 50 years could be attributed to a low savings rate only if the United States had started off with a much higher savings rate than today and there had been a substantial decline in the savings rate over time.

g. According to endogenous growth theory, higher levels of education lead to higher output growth rates.