Question: Question 1 : If velocity is 5, aggregate output is initially $ 10 trillion, and the money supply is $2trillion. What is the price level?What

Question 1 :

If velocity is 5, aggregate output is initially $ 10 trillion, and the money supply is $2trillion. What is the price level?What is the price level if the money supply doubles?

Question 2: assume that the velocity is 5, nominal income (GDP) is initially $ 10 trillion, and the money supply is $2trillion. What happens to the nominal income if the money supply doubles?

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