If the money supply is increased by 5% and: a. velocity is constant, and the output is constant at full employment output, then inflation is b. velocity is constant, and the full employment output increased by 2%, then inflation is a. 0.05, 0.03 b. 0.07, 0.02 c. 0.09, 0.06 d. 0.10, 0.11

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