(Solution) - Suppose that the per hour worked form of the production -(2025 Original AI-Free Solution)

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Suppose that the per hour worked form of the production function for an economy is given by the depreciation rate is 10%, the investment rate is 20%, and the growth rate of labor hours is 2%.
a. Find the steady-state capital-labor ratio for this economy.
b. Find the steady-state real GDP per hour worked for this economy.