. .. Price level (GDP deflator. Quantity of real GDP demanded Quantity of real GDP supplied 2009 = 100) (trillions of 2009 dollars) (trillions of 2009 dollars) 115 7.8 12.5 110 9.4 11.0 105 9.8 10.0 100 10 10 95 11.2 8.0 90 11.6 7.0 100 Prompts If potential GDP is $11.0 trillion, what does that imply about the O The economy is at an equilibrium that is a below-full- economy's level of employment? employment equilibrium. If potential GDP is $9.0 trillion, what does that imply about the 105 economy's level of employment? The economy is at an equilibrium that is an above-full- What is the equilibrium price level and real GDP? employment equilibrium