The nominal GDP in the base year was 1000 (billion). After 5 years, the GDP deflator grew 2 times. At the same time, the real GDP increased by 9%. a) Find the GDP in the current year in current prices, and b) determine the amount of money supply necessary for the GDP functioning, if the money circulates 4 times per period?

The nominal GDP in the base year was 1000 (billion). After 5 years, the GDP deflator grew 2 times. At the same time, the real GDP increased by 9%. a) Find the GDP in the current year in current prices, and b) determine the amount of money supply necessary for the GDP functioning, if the money circulates 4 times per period?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter14: Money And The Economy

Section: Chapter Questions

Problem 6WNG

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