24. If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the price level if the money supply declines from $400 billion to $300 billion? FESTY p. 478 (528 of 720)
24. If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the price level if the money supply declines from $400 billion to $300 billion? FESTY p. 478 (528 of 720)
Chapter16: Monetary Policy
Section: Chapter Questions
Problem 1SQP
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Transcribed Image Text:24. If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the price level if the money
supply declines from $400 billion to $300 billion?
P. 478
(528 of 720)-
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