Economics #18 If last year there was deflation, and velocity of money remained constant, we can deduct that a.prices fell during the the last year. b.money growth must have been greater than the growth of real income. c. money growth must have been less than the growth of real income. d.output fell during the last year

Economics #18 If last year there was deflation, and velocity of money remained constant, we can deduct that a.prices fell during the the last year. b.money growth must have been greater than the growth of real income. c. money growth must have been less than the growth of real income. d.output fell during the last year

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: The Short-run Trade-off Between Inflation And Unemployment

Section: Chapter Questions

Problem 6CQQ

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