What is the inflation rate? Year Money Assume that the velocity of money is constant. (Write your answer in percentage. If your answer is 0.0222, write 2.22.) 2015 1,200 2016 1,220

Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
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Chapter17: Money Growth And Intlation
Section17.1: The Classical Theory Of Inflation
Problem 1QQ
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What is the inflation rate?
Year Money supply GDP
Assume that the velocity of money is constant. (Write your answer in
percentage. If your answer is 0.0222, write 2.22.)
2015 1,200
12,000
2016 1,220
12,550
Transcribed Image Text:What is the inflation rate? Year Money supply GDP Assume that the velocity of money is constant. (Write your answer in percentage. If your answer is 0.0222, write 2.22.) 2015 1,200 12,000 2016 1,220 12,550
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