Suppose the Fed's policies are successful at attaining potential GDP in 2020. State whether each of...
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Suppose the Fed's policies are successful at attaining potential GDP in 2020. State whether each of the following will be higher or lower than if the Fed had taken no action: real GDP, potential GDP, inflation rate, unemployment rate. Year 2019 2020 Potential GDP $16.4 trillion $17.7 trillion Real GDP $16.4 trillion $17.0 trillion Price Level 112 114 Suppose the Fed's policies are successful at attaining potential GDP in 2020. State whether each of the following will be higher or lower than if the Fed had taken no action: real GDP, potential GDP, inflation rate, unemployment rate. Year 2019 2020 Potential GDP $16.4 trillion $17.7 trillion Real GDP $16.4 trillion $17.0 trillion Price Level 112 114
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