What is the relationship between real gdp and real potential gdp? How does long run aggregate supply relate to gdp? What is the correlation between real gdp and real potential gdp when the economy is at full employment?

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Principles of Economics II Midterm 2 Study Guide Lecture 10 Aggregate Supply  The quantity of real GDP supplied is the total quantity that firms plan to produce during a given period  Aggregate supply is the relationship between the quantity of real GDP supplied and the price level  We distinguish two line frames associated with different states of the labor market o Long-run aggregate supply  The relationship between the quantity of real GDP equals potential GDP  Potential GDP is independent of price level  LAS- vertical at Potential GDP o Short-run aggregate supply