1)Define the sources of long run economic growth. 

2)Give an example of each of the sources of growth. 

3)Propose one policy for each source of growth that could enhance or strengthen that source.

4)For you as an individual, what are the benefits of achieving strong economic growth in the United States? What are the main challenges?

Finally, at the conclusion of your paper please include a brief statement reflecting on what you feel you have learned from the assignment and how that learning may be applied to your life or work going forward

Long-run growth is defined as the sustained rise in the number of goods and services that an economy produces.

Sources include;

contribute more land and raw materials should lead to an outward shift of PPF and thus an increase in potential growth.

b) Human Factor.
The quantity of labor is a factor that contributes to growth. The bigger the population, the larger is the labor force and further out is the PPF. The larger population can also mean more entrepreneurs and a larger market that can sustain more industries.

c) Physical Capital.

 Quantity helps to form human capital and to improve technical skills that contributes to a more productive labor force.

2. a) Examples of natural factors are; land and natural resources.

   b) Example of a human factor is; labor resource (population).

  c) Examples of physical capital include; factories, machinery, shops, malls, offices, and motor vehicles.

Step-by-step explanation

3)a) Increasing the quality of the natural factors can help to shift the PPF outwards instead of concentrating on the quantity.

b) Labour force to be increased through an immigration policy that attracts skilled workers.

c) Borrowing capital from foreign commercial banks, World Bank, foreign countries, or by Foreign Direct Investment (FDI) to reduce the gap developed between savings rate and investment rate.

4.a) Benefits

 Higher average incomes. Economic growth enables consumers to consume more goods and services and enjoy better standards of living. Economic growth during the Twentieth Century was a major factor in reducing absolute levels of poverty and enabling a rise in life expectancy in the United States.

Lower unemployment. With higher output and positive economic growth, firms tend to employ more workers creating more employment.

Improved public services. Higher economic growth leads to higher tax revenues and this enables the government to spend more on public services, such as health care and education.

b) challenges;

The "made in the USA" financial crisis.

 Lack of non-resource dynamic export industries in Latin America can generate the dynamism that the resource sector no longer can.

In summary, I have learned that a piece of land, for instance, can be rendered more productive (increased quality) by irrigation, improved farming technology, and better planning of land usage. Also, oil reserves can be increased by active exploration and novel methods of extraction.

This knowledge as an individual can convert waste/dry land into production by use of irrigation.