Question: how do I solve this? 4. Velocity and the quantity equation Consider a simple economy that produces only pies. The following table contains information on

how do I solve this?

how do I solve this? 4. Velocity and the quantity equation Consider

4. Velocity and the quantity equation Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2018, the money supply was $320, the price of a pie was $8.00, and the economy produced 600 pies. Fill in the missing values in the following table, selecting the answers closest to the values you calculate. Quantity of Money Price Level Quantity of Output Nominal GDP Year (Dollars) Velocity of Money (Dollars) (Pies) (Dollars) 2018 320 8.00 600 2019 336 600 The money supply grew at a rate of from 2018 to 2019. Since pie output did not change from 2018 to 2019 and the velocity of money , the change in the money supply was reflected win changes in the price level. The inflation rate from 2018 to 2019 was

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