Table 11.7 
-Refer to Table 11.7.Suppose the table above illustrates the values of real and potential GDP and the price level if the Bank of Canada does not change its current policy to be more contractionary or expansionary.Suppose that the Bank of Canada uses an appropriate policy and is successful in keeping real GDP at potential in 2015.State whether each of the following will be higher or lower than if the Bank of Canada had taken no action:
a.real GDP
b.potential real GDP
c.the price level
d.the unemployment rate
Definitions:
Single-gene Disorders
Genetic disorders caused by mutations in a single gene, affecting how a particular protein is made or functions, leading to various health problems.
Recessive
A term used in genetics to describe a trait or gene that is only expressed when two copies of it are present, one from each parent, as it is masked by the presence of a dominant trait when only one copy is present.
Cell Differentiation
The process by which a cell becomes specialized in order to perform a specific function within the body.
Specialize
To focus on a particular area of study or profession, gaining extensive knowledge or skill in that area.
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