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Consider the data of the following table for the years 2019 and 2020 Year Real GDP Potential GDP Unemployment rate 2019 4.26 trillion $ 4.19

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Consider the data of the following table for the years 2019 and 2020 Year Real GDP Potential GDP Unemployment rate 2019 4.26 trillion $ 4.19 trillion $ 3.5% 2020 4.27 trillion $ 4.34 trillion $ 4.9% a. In 2019, Real GDP is higher than potential GDP. Explain how is this possible b. Real GDP is 2020 is higher than 2019 the unemployment rate increased substantially from 2019 to 2020. Why did this increase in unemployment occur? c. Was the inflation rate in 2020 to have been higher or lower than the inflation rate in 2020? Does your answer depend on whether the recession that started in December 2019 was caused by a supply shock or by a change in a component of aggregate demand

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