The velocity of money in the small Republic of Sloagia is always the same. Last year, the money supply was S 5 billion and real GDP was $ 20 billion. This year, the money supply increased by 5 percent, real GDP by 4.5 percent, and nominal GDP is S 19 billion. Calculate the velocity of money The price level last year= The Price level this year = The Inflation rate=
The velocity of money in the small Republic of Sloagia is always the same. Last year, the money supply was S 5 billion and real GDP was $ 20 billion. This year, the money supply increased by 5 percent, real GDP by 4.5 percent, and nominal GDP is S 19 billion. Calculate the velocity of money The price level last year= The Price level this year = The Inflation rate=
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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