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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

In monetarism, how will each of the following affect the price level in the short run?

  1. a. An increase in velocity
  2. b. A decrease in velocity
  3. c. An increase in the money supply
  4. d. A decrease in the money supply

(a)

To determine

The change in price level in the short-run.

Explanation

When the velocity increases, it leads to an increase in the aggregate demand. This leads to a rightward shift of the aggregate demand curve...

(b)

To determine

The change in price level in the short-run.

(c)

To determine

The change in price level in the short-run.

(d)

To determine

The change in price level in the short-run.

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