Answer the following questions True, False, or Uncertain. Briefly explain your answers.No credit without explanation.

1. In the Solow model, capital accumulation cannot explain growth.

2. The Solow model predicts that in the long run all countries will converge to the same level of per capita income.

3. Inflation means that increases in real GDP are less than increases in nominal GDP.

4. Government policy should always attempt to achieve a savings rate consistent with theGolden Rule.

5. According to the Fisher equation, nominal interest rates always exceed expected inflation.