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Refer to table 16-3 consider the hypothetical information in the table above for potential real gdp real gdp and the price level in 2020 and
Refer to table 16-3 consider the hypothetical information in the table above for potential real gdp real gdp and the price level in 2020 and 2021 if congress and the president do not use fiscal policy. If congress and the president use fiscal policy successfully to keep real gdp at its potential level in 2021, which of the following will be higher
QUESTION 24 Table 16-3 Year Potential Real GDP Real GDP 2020 Price Level $18.0 trillion $18.0 trillion 150 2021 18.5 trillion 18.2 trillion 152 Refer to Table 16-3. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2020 and in 2021 if Congress and the president do not use fiscal policy. If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2021, which of the following will be higher than if Congress and the president had taken no action? real GDP and the unemployment rate potential GDP and the inflation rate real GDP and the inflation rate O real GDP and potential GDP QUESTION 25 Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 MAY 2 ManBorok Fire * & O CO OO W# O P CStep by Step Solution
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