The table below shows real GDP, potential GDP and the unemployment rate for a hypothetical economy. 
TABLE 31- 1
-Some economists argue that increases in labour- force participation rates by young people and females in the 1970s and 1980s caused
Definitions:
Market Rate
The prevailing interest rate available in the marketplace on a given financial product or the current price of a commodity or service.
Open Market Operations
Central bank activities involving the buying and selling of government securities in the open market to control the money supply and influence interest rates.
Monetary Policy
Actions undertaken by a central bank, such as setting interest rates or buying securities, to influence the money supply and achieve economic goals.
Discount Rate
The rate at which the Federal Reserve lends money to financial institutions through its discount window.
Q28: Refer to Figure 34- 2. In the
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Q104: Until the onset of the most recent