2. Solow Model with Technological Progress [25 Points] Use the following information to answer Parts (a) - (c) Suppose the Venezuelan economy can be described by the Solow Model with technological progress. Output per effective worker: f (k) = 0.5 Savings rate (s) = 0.16 Depreciation rate (8) = 0.06 Population growth rate (n) = 0.02 Rate of technological progress (g) = 0.01 (a) Calculate the following steady-state values for Venezuela: (i) capital per effective worker ( k). (ii) output per effective worker () ). (iii) consumption per effective worker ( 2 ) (iv) investment per effective worker (i ). (v) growth rate of output per effective worker (%A y) at steady-state. (vi) growth rate of output per worker (%Ay) (b) Calculate the Golden-Rule level of capital per effective worker for Venezuela (c). What is the level of consumption per effective worker at the Golden-Rule level of capital per effective worker