K The quantity of money is $2 trillion, real GDP is $9 trillion, the price level is 1.2, the real interest rate is 4 percent a year, and the nominal interest rate is 6 percent a year, Calculate the velocity of circulation, the value of Mx V, and nominal GDP. >>> Answer to 2 decimal places.

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Money Growth And Inflation
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The quantity of money is $2 trillion, real GDP is $9 trillion, the price level is 1.2, the real interest rate is 4 percent a year, and the nominal interest rate is 6
percent a year,
Calculate the velocity of circulation, the value of Mx V, and nominal GDP.
>>> Answer to 2 decimal places.
Transcribed Image Text:K The quantity of money is $2 trillion, real GDP is $9 trillion, the price level is 1.2, the real interest rate is 4 percent a year, and the nominal interest rate is 6 percent a year, Calculate the velocity of circulation, the value of Mx V, and nominal GDP. >>> Answer to 2 decimal places.
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