1) Your author claims that the U.S. economy can increase its real output (growth) by:(1) increasing its inputs of resources and (2) by increasing the productivity of those resources. Briefly explain what the U.S. economy would need to do to increasebothof these factors over the next 20 years.

2) The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year. (b) What is the difference in GDP between a growth rate of 2% and one of 3% over those 5 years? (Note: There is a note on compounding growth in the Canvas Module).