Answer questions a-e. a. What is the equation of exchange? b. In the equation of exchange, if
Question:
a. What is the equation of exchange?
b. In the equation of exchange, if V doubled, what would happen to nominal GDP as a result?
c. In the equation of exchange, if V doubled and Q remained unchanged, what would happen to the price level as a result?
d. In the equation of exchange, if M doubled and V remained unchanged, what would happen to nominal GDP as a result?
e. In the equation of exchange, if M doubled and V fell by half, what would happen to nominal GDP as a result?
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a MV PQ b Nominal GDP would ...View the full answer
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