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=

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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