The next question you asked is how fast the economy can grow. Over the short run, that depends on the amount of slack in the economy. Once the economy has moved to capacity, the maximum sustainable growth rate is limited by the rate at which productive capacity expands over time. This limit is generally referred to as trend growth.
Productive capacity expands both because of increases in physical inputs (labor and capital) and because of improvements in technology -- more people working with more and better equipment. Once full employment is reached, the labor force expands with increases in the working age population, augmented by any trend in the labor force participation rate. The contribution of growth in  1NAIRU using CPI.