(a)Discuss the purchasing power parity and why it is reasonable to suppose that purchasing power parity holds in the long run but not in the short run. [Approximate number of words: 1000. Strict maximum of words: 1250] (b)The version of the Solow-Swan model extended to include human capital provides an excellent description of the cross-country data." Discuss. [Approximate number of words: 1000. Strict maximum of words: 1250]