Use the following information to answer the question(s) below: i. the rate of depreciation is 10% per year.
ii. the population growth rate is 2% per year.
iii. the growth rate of technology is 3% per year.

1. Refer to the information above. Which of the following represents the level of investment needed to maintain constant capital per effective worker (K/NA) in this economy?

a. 2%
b. 3%
c. 5%
d. 10%
e. 15%

2. Refer to the information above. Which of the following represents the steady-state growth rate of output in this economy?
a. 2%
b. 3%
c. 5%
d. 10%
e. 15%

3. Refer to the information above. Which of the following represents the steady-state growth rate of output per worker in this economy?

a. 2%
b. 3%
c. 5%
d. 10%
e. 15%