An economy has a money supply of 1,052, money velocity of 10, and output of 1,048. How much will the price level change if output and money supply remain the same and the money velocity rises to 16? Round your answer to the nearest two decimal place.
An economy has a money supply of 1,052, money velocity of 10, and output of 1,048. How much will the price level change if output and money supply remain the same and the money velocity rises to 16? Round your answer to the nearest two decimal place.
Chapter16: Monetary Policy
Section: Chapter Questions
Problem 15SQ
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