get deficit (5) the eco wer. (1) crowding out effect pose the right word from below: (2) ( increase ) (3) ( rises ) (4 ) falls ) (5) ( reduces Reduces (b) increases (c) rises (d) falls was 7% and the growth rate of L was 2% in a certain developing economy during 1950-2000. (1)Estimate the growth rate of Y/L =per capita real GDP (2)Estimate the growth rate of K/L= per capita capital (3) Suppose the annual average growth rate of GDP deflator during the same period in the economy was 3%. What would be the annual average growth rate of nominal GDP(GDP in current prices)? 908. (5 points) (1) Fill in with number (2) Choose one (3) Choose one- (1) The real GDP per person in a country A has grown about 4 percent per year and its per-capita real GDP has grown at 2 percent per year. What would be its growth rate of population during the same period? % + (2) Suppose the aggregate production function in a developing economy is expressed as : (Y/L) = (K/L) ^0.5 where Y= real GDP K= real capital Stock L= population(Labor)- (a) If K= 1,000 L= 10 then What would be the level of Y? Y = (b) Suppose the annual average growth rate of Y was 5 %, the growth rate of K was 7% and the growth rate of L was 2% in a certain developing economy during 1950-2000. (1)Estimate the growth rate of Y/L =per-capita real GDP; (2) Estimate the growth rate of K/L= per-capita capital: 9%- (3) Suppose the annual average growth rate of GDP deflator during the same period in the economy was 3%. What would be the annual average growth rate of nominal GDP(GDP in current prices)? 96