Refer to Table 12.2 for the Following Questions

question 15

Multiple Choice

Refer to Table 12.2 for the following questions.
Table 12.2

-Consider the hypothetical information in Table 12.2 for potential GDP, real GDP and the price level in 2016 and in 2017 if the Reserve Bank of Australia does not use monetary policy. If the RBA uses monetary policy successfully to keep real GDP at its potential level in 2017, which of the following will be lower than if the RBA had taken no action?

• A)real GDP and the unemployment rate
• B)real GDP and the inflation rate
• C)real GDP and potential GDP
• D)potential GDP and the inflation rate

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Definitions:

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The middle value of household incomes when arranged in ascending or descending order, dividing the income distribution into two equal halves.

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