Question: Suppose that the per-worker production function for an economy is given by y=10k^0.3. The depreciation rate is 18%, the savings rate is 21%, and the

Suppose that the per-worker production function

for an economy is given by y=10k^0.3. The depreciation rate is 18%, the savings rate is 21%, and the growth rate of labour hours is 7%.

a. The steady-state

capital stock per worker for this economy is

(Round to two decimal places asneeded.)

b. Thesteady-state income per worker for this economy is

(Round to two decimal places asneeded.)

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