If the per-worker production function is given by y = k1/2, the saving rate is s = 0.25, the population growth rate is n = 0.01, the depreciation rate is δ = 0.02, and the rate of labor-augmenting technological progress is g = 0.02, then the steady-state level of capital per effective worker is:
2.0.
20.
25.
30.