With a per-worker production function y = k¹/2, the steady-state capital stock per worker (k*) as a function of the saving rate (s) is given by: (Production function with alpha = 1/2. And if you see a rectangle in the option, it means your computer cannot display the formula properly. The rectangle should be lowercase Greek alphabet delta, i.e. the depreciation rate.) k* =0/s. k*=s/0. k* = (0/s)². k* = (s/[])². t

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Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.