34 weeks pregnant today. measuring "low amniotic fluid". baby is measuring 5 pounds, likelihood of complications of delivered now? induction? c-sec?

Depends: Depends on how low the AFI (amniotic fluid index) is and how compliant you are with NSTs. You should be resting on your left side, getting NSTs and maybe even biophysical profiles. If a smoker, stop immediately. Your fluid may rebound if you follow this plan. At 34 weeks there is about 5% chance of long term newborn complications and the c section risk depends again on how low the fluid is.