Imagine NASA discovers a very large asteroid orbiting Earth. The asteroid is believed to contain a very large amount of valuable minerals (lithium, cadmium, coltan, and gold). Due to recent advances in space flight, a few American companies feel confident that they can safely mine these minerals and bring them to Earth. Let us assume that they are right. This would mean an unexpected, large increase in Earth's (and the US in particular) resources.

Use the two main approaches learned in class to predict the effect of this increase in resources: use growth economics to predict the long term effect on real GDP per capita and living standards, and use the AS-AD model to predict the short term effect on GDP, price level and unemployment.