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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

According to the quantity theory of money, what is the effect of an increase in the quantity of money?

To determine

Quantity theory of money and price level.

Explanation

By the quantity theory of money, the quantity of money available in an economy determines the value of money. The growth in the quantity of money is the primary cause of inflation...

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