Question: Suppose that a rules - based monetary policy proposal specifies that the money supply will grow 3 percent each year. If velocity grows 1 percent

Suppose that a rules-based monetary policy proposal specifies that the money supply will grow 3 percent each year. If velocity grows 1 percent this year and Real GDP grows 2 percent, the price level will __________ by __________ percent.
Group of answer choices
rise; 3
fall; 2
rise; 2
rise; 6
fall; 5

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