Question: Consider the following hypothetical data for 2012 and 2013: a. Find the price level for 2012 and 2013. What is the rate of inflation between

Consider the following hypothetical data for 2012 and 2013:
a. Find the price level for 2012 and 2013. What is the rate of inflation between the two years?
b. What is the rate of inflation between 2012 and 2013 if the money supply in 2013 is 1,100 instead of 1,050?
c. What is the rate of inflation between 2012 and 2013 if the money supply in 2013 is 1,100 and output is 2013 is 12,600?

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