In the country of Wiknam, the velocity of money is constant. Real GDP grows by 5 percent

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In the country of Wiknam, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 14 percent per year, and the nominal interest rate is 11 percent. What is the real interest rate?

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The real interest rate is the difference between the nominal int...View the full answer

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