Q)

Suppose the following table describes the expenditure components of real GDP, potential GDP, and the price level for the Australian economy in 2019 and 2020:

Year Potential GDP Price Level C G NX 2019 $500 billion 100 266 billion 113 billion 102 billion 19 billion 2020 $500 billion 100 246 billion 103 billion 102 billion 9 billion