Using well-labelled clear diagrams, explain the effect on steady-state equilibrium and growth in the Swan-Solow model of the following:

(a) A reduction in the depreciation rate,

(b) A reduction in the saving rate, s

(c) An increase in total factor productivity, A

(d) What role does technological progress play in the Swan-Solow growth theory?

(e) What are the limitations of the Swan-Solow model in explaining growth?