If the natural unemployment rate is 4 percent and potential GDP is 30 billion, then according to Okun's Law, when the unemployment rate falls to 3 percent, real GDP
A) decreases to 29.4 billion.
B) first decreases by 4 percent and then increases by 4 percent.
C) increases to 60 billion.
D) increases to 30.6 billion.
E) remains constant at 30 billion.
Question 2
If the real interest rate falls, other things being the same, the quantity of loanable funds demanded ________ and the quantity of loanable funds supplied ________.
A) does not change; decreases
B) increases; increases
C) increases; decreases
D) decreases; does not change
E) decreases; decreases
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