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 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? Instructions: Enter your responses rounded to two decimal places. Nominal GDP would rise by percent. If GDP rose 2.09 percent, what would be the level of inflation? Inflation would equal| percent

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