If velocity were constant at 1.5 while M2 rose from $11 trillion to $12 trillion in a
Question:
If velocity were constant at 1.5 while M2 rose from $11 trillion to $12 trillion in a single year, what would happen to nominal GDP? If real GDP rose 2.09 percent, what would be the level of inflation?
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To calculate nominal GDP we use the equation of exchange MV PY Where M Money supply M2 V Velocity of ...View the full answer
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Related Book For 
Money Banking And Financial Markets
ISBN: 9781260226782
6th Edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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