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Year Potential Real GDP Real GDP Price Level 2020 $19.2 trillion $19.2 trillion 154 2021 19.8 trillion 19.6 trillion 156 Refer to Table Suppose the
Year Potential Real GDP Real GDP Price Level 2020 $19.2 trillion $19.2 trillion 154 2021 19.8 trillion 19.6 trillion 156 Refer to Table Suppose the table above illustrates the values of real and potential GDP and the price level if the Fed did not vote to change their current policy to be more contractionary or expansionary. Suppose that the Fed used an appropriate policy and was successful in keeping real GDP at potential in 2021. Draw an aggregate demand and supply curve to illustrate your
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