(Solved): Consider the following table and identify equalibrium GDP. If the potential GDP is at \( 12.0 \), w ...

Consider the following table and identify equalibrium GDP. If the potential GDP is at \( 12.0 \), what can you conclude about price levels and the unermployment rate? \begin{tabular}{|l|l|l|} \hline Current Price Level & Real GDP-quantity demanded per trillion & Real GDP-quantity supplied per trillion \\ \hline 120 & \( 6.0 \) & \( 10.0 \) \\ \hline 115 & \( 8.0 \) & \( 8.0 \) \\ \hline 110 & \( 11.0 \) & \( 6.0 \) \\ \hline 100 & 130 & \( 5.0 \) \\ \hline \end{tabular} The economy has high unemployment but experiences stable price levels because the economy operates below the posential GDP. The economy is experiencing rising price levels and has a fow unemployment rate because it is cperating above the potential GDP. The econociy has stable price levels and low unemployment because it is openting above the potertial GDP.