GDP $19,000 (billions of dollars) 18,000 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 economic growth inflation Nominal GDP unemployment 2009 2010 2011 What causes the gap between the two curves? an increasing trade deficit Real GDP 2012 2013 2014 2015 2

What causes the gap between the two curves? an increasing trade deficit economic growth inflation unemployment