Economic growth is one of the most important topics among economists and policy makers. In one of the most cited economic papers, a Nobel Laureate stated that once one starts to think about economic growth, it is hard to think about anything else. There are different views about what causes or hinders economic growth. For each of the four statements, explain why they are true using the Malthusian theory or the Solow growth model. Use equations or/and figures if appropriate. a. Technological progress does not always lead to economic growth. [4 marks] b. Technological progress is not needed for economic growth in the short run but is needed for economic growth in the long run. [6 marks] c. Increasing land may or may not be good for economic growth. [4 marks] d. Increasing capital may or may not be good for economic growth