Your dormitory Griffingate has appointed you as the central banker of its economy, which deals in the currency of wizcoins_ Assume that the velocity of wizcoins in Griffingate is constant at 10,000 transactions per year. Right now real GDP is 1,000 wizcoins, and there are 2,000 wizcoins in existence. a. What will be the value of each of the variables that make up the quantity equation? Instructions: Enter your answers as whole numbers. wizcoins wizcoins wizcoins b. Now indicate how the other variables will respond to each of the following scenarios, taking each case separately and assuming that velocity remains constant. Instructions: Enter your answers as whole numbers. (i) You increase the money supply to 4,000, and prices increase twofold Real GDP wizcoins (ii) Start with the initial values. Real GDP drops to 500 wizcoins, and the money supply remains constant. Price level = wizcoins (iii) Start with the initial values. Prices increase threefold because of a sudden scarcity of soft drinks, and you decide to keep the supply of wizcoins constant. Real GDP wizcoins (iv) Start with the initial values. You increase the money supply to 5,000 wizcoins, and prices rise by 350 percent Real GDP wizcoins