Need help with these two, need them both anwered. I gave possible answers (pick only one). Thank you ! 5. Velocity and the equation of exchangeConsider a simple economy that produces only pens. The following table contains information on the economy's money supply, velocity of money, pricelevel, and output. For example, in 2014, the money supply was 50, the price of a pen was $4.00, and the economy produced 250 pens.Fill in the missing values in the following table, rounding to the nearest cent when necessary.Money SupplyPrice Level(Dollars)4.00Quantity of Output(Pens)(Dollars)5025051250Year20142015Velocity of MoneyThe money supply grew at a rate ofincreased/decreased/remained the same2015 was204.08/0.28/20.20Nominal GDP(Dollars)% from 2014 to 2015. Since pen output did not change from 2014 to 2015 and the velocity of moneyentirely/partially, the change in the money supply was reflectedin changes in the price level. The inflation rate from 2014 to% For each macroeconomic viewpoint, identify whether it is a position held by classical economists, Keynesian economists, or monetarists. If the viewpointis shared by more than one group, check all that apply.ViewpointsThe velocity of money is stable or constant.The cause of unemployment during a recession is inadequate aggregate demand.Classical Keynesian MonetaristC

An inflationary gap estimates the gap between the current level of real GDP and the GDP that would…

Consider a simple economy that produces only pens. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2014, the money supply was 50, the price of a pen was $4.00, and the economy produced 250 pens. Fill in the missing values in the following table, rounding to the nearest cent when necessary. Money Supply (Dollars) Price Level (Dollars) 4.00 Quantity of Output (Pens) 50 250 51 250 Year 2014 2015 Velocity of Money The money supply grew at a rate of ncreased/decreased/remained the same 2015 was % 20 4.08/0.28/20.20 Nominal GDP (Dollars) % from 2014 to 2015. Since pen output did not change from 2014 to 2015 and the velocity of money entirely/partially the change in the money supply was reflected in changes in the price level. The inflation rate from 2014 to

Consider a simple economy that produces only pens. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2014, the money supply was 50, the price of a pen was $4.00, and the economy produced 250 pens. Fill in the missing values in the following table, rounding to the nearest cent when necessary. Money Supply (Dollars) Price Level (Dollars) 4.00 Quantity of Output (Pens) 50 250 51 250 Year 2014 2015 Velocity of Money The money supply grew at a rate of ncreased/decreased/remained the same 2015 was % 20 4.08/0.28/20.20 Nominal GDP (Dollars) % from 2014 to 2015. Since pen output did not change from 2014 to 2015 and the velocity of money entirely/partially the change in the money supply was reflected in changes in the price level. The inflation rate from 2014 to

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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