If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the

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If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the price level if the money supply declines from $400 billion to $300 billion?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Mar 13, 2018 08:46 AM

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If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the

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Initially velocity is 5 and the aggregate output is 1000 a...View the full answer

Principles of economics

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