If the quantity of money is $3 trillion, real GDP is $10 trillion, the price level is
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If the quantity of money is $3 trillion, real GDP is $10 trillion, the price level is 0.9, the real interest rate is 2 percent a year, and the nominal interest rate is 7 percent a year, calculate the velocity of circulation, the value of M ´ V, and nominal GDP.
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The velocity of circulation V is equal to P x Y M where P is the price level Y i...View the full answer
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