If the Australian labour force is growing at 3.5% every year. The labour productivity is increasing ay 1% every year. What is the benchmark growth rate of output that will keep the unemployment rate constant?Group of answer choices4.5%2.5%1%3.5%

In an closed economy with production function , the national saving rate is 15%, capital depreciation is 5%, population growth rate is 3%, assume labor growth rate is equal to population growth rate, and technology growth rate equal to 2%. What is the growth rate of output per real labor at Steady State level?

Use the information below to answer the following questions: (1) the rate of depreciation is 12% per year,  (2) the population growth rate is 2% per year, and (3) the growth rate of technology is 3% per year.Refer to the information above. Which of the following represents the steady-state growth rate of output per worker in this economy?Question 2Select one:a.2%b.12%c.5%d.3%e.18%

Suppose a country’s population grows by 1% per annum, and its labour efficiency grows by 1% per annum. Then, according to the Solow model with technological progress, the steady-state growth rate of total output is ______.a.0%b.2%c.1%d.3%

In the Solow model, if the output per effective worker function y=, the population growth at a 2% rate, the labour efficiency growth at a 1.5% rate, which of the following is the growth rate of output per worker at steady state?

Labor productivity growth is the growth rate of output per person in the economy.Group of answer choicesTrueFalse