Recall from Chapter 9 the model of learning by doing in the production of memory chips. Suppose that an economy has just entered large-scale production of these chips, and that a large fraction of the workforce is employed in the industry. Because of the learning curve, GDP grows, rapidly at first, then more slowly as the workers become experienced. Suppose that consumers in this economy plan well for the future, and that preferences are such that their consumption is constant over time (in other words, they consume their permanent income). Draw a graph to show what the time path of GDP, consumption, and the trade deficit will look like for this country. Assuming that the economy is a net borrower on the world market rather than a net lender, draw the time path for the economy's foreign debt as well. Obviously, no numbers are needed, just an illustration of the qualitative appearance of these time paths.