1 If velocity were constant at 2 while M2 rose from $3 trillion to $4 trillion in a single year, what would happen to nominal GDP? Instructions: Enter your responses rounded to two decimal places. Nominal GDP would rise by percent If real GDP rose 3 percent, what would be the level of Inflation? Intiation would equal percent 5 points Boor References Assume the short-run aggregate supply curve can be expressed algebraically as: 10 Ys=5,000 + 3,000r where Ys is aggregate supply. And the dynamic aggregate demand curve can be written as: 5 points Yd=5,500 - 1,000r where yd is aggregate demand. Find the numerical value for equilibrium output, y, in the short run. Instruction: Enter your response rounded to the nearest whole number. Book References Find the numerical value, in percent, for the short-run inflation rate, Instruction: Enter your response as a percent rounded to one decimal place. %6