Arrange the following steps in the process of reallocating resources to promote economic growth: 1) Increased investment in capital goods, 2) Higher productivity, 3) Reallocation of resources from consumer goods, 4) Growth in nominal GDP.

To promote economic growth, we start by reallocating resources from consumer goods to capital goods. This means that instead of spending on things like food or clothing, we invest in tools, machinery, and buildings that help businesses produce more. Once we increase investment in capital goods, companies can create more products efficiently, leading to higher productivity. As productivity rises, the overall economy grows, which is reflected in an increase in nominal GDP, showing that the total value of goods and services produced has gone up. For example, if a factory invests in new machines, it can produce more items in less time, boosting both its output and the economy as a whole.