The velocity of money in the small Republic of Sloagia is always the same. Last year, the money supply was $ 10 billion and real GDP was S 11 billion. This year, the money supply increased by 6 percent, real GDP by 2.7 percent, and nominal GDP is $ 19 billion. Calculate the velocity of money Number The price level last year, Number The Price level this year Number The inflation rate. Number

The velocity of money in the small Republic of Sloagia is always the same. Last year, the money supply was $ 10 billion and real GDP was S 11 billion. This year, the money supply increased by 6 percent, real GDP by 2.7 percent, and nominal GDP is $ 19 billion. Calculate the velocity of money Number The price level last year, Number The Price level this year Number The inflation rate. Number

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: Money Growth And Intlation

Section: Chapter Questions

Problem 2CQQ

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