As indicated in the chapter, the CBO forecast that real GDP would grow at an average annual rate of 1.9 percent from 2017 to 2027. The Trump administration pledged to raise the growth rate to 3...

As indicated in the chapter, the CBO forecast that real

GDP would grow at an average annual rate of 1.9 percent

from 2017 to 2027. The Trump administration pledged to

raise the growth rate to 3 percent, although some policymakers and economists were skeptical that this goal could

be achieved. Yet from 1960 to 1969, real GDP grew at an

average annual rate of 4.5 percent. Briefly discuss the factors that make growth rates that high more difficult to

achieve today.