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Price level Quantity of real Quantity of real (GDP deflator, GDP demanded GDP supplied 2000 = 100) (trillions of 2000 (trillions of 2000 dollars) dollars)

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Price level Quantity of real Quantity of real (GDP deflator, GDP demanded GDP supplied 2000 = 100) (trillions of 2000 (trillions of 2000 dollars) dollars) 115 8.8 12.0 110 9.4 11.0 105 10.0 10.0 100 10.6 9.0 95 11.2 8.0 90 11.8 7.0 6. Based on the table above, a) What is the equilibrium price level and real GDP? b) If potential GDP is $11.0 trillion, what does that imply about the economy's level of employment? c) If potential GDP is $9.0 trillion, what does that imply about the economy's level of employment

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