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Table 15-3 Year Potential Real GDP Real GDP Price Level 2020 $18.0 trillion $18.0 trillion 150 2021 18.5 trillion 18.8 trillion 154 Refer to Table

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Table 15-3 Year Potential Real GDP Real GDP Price Level 2020 $18.0 trillion $18.0 trillion 150 2021 18.5 trillion 18.8 trillion 154 Refer to Table 15-3. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2020 and in 2021 if the Federal Reserve does not use monetary policy. If the Fed uses monetary policy successfully to keep real GDP at its potential level in 2021, which of the following will be lower than if the Fed had taken no action? O real GDP and the inflation rate O real GDP and the unemployment rate potential GDP and the inflation rate O real GDP and potential GDP

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