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Consider the table below: Quantity of real GDP demanded Quantity of real GDP supplied Price Level (trillions $) (trillions $) 210 10 20 205 15

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Consider the table below: Quantity of real GDP demanded Quantity of real GDP supplied Price Level (trillions $) (trillions $) 210 10 20 205 15 15 193 18 16 172 20 12 Suppose that potential output is $12 trillion. The unemployment rate is (higher, lower) than the natural rate of unemployment. AD and SRAS intersect (above, below) A/ the long run aggregate supply curve (LRAS)

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