a) Your author claims that the U.S. economy can increase its real output (grow) by:(1) increasing its inputs of resources and (2) by increasing the productivity of those resources. Briefly explain how the U.S. might be able to increase both.
b) The real GDP of the U.S. economy was $16,813.3 billion at the end of 2016. Calculate the difference in 5 years if (1) growth was 4% per year ( Trump) or (2) 2% per year (everyone else).