Business, 20.04.2020 21:09 jaimechristopher2002

Suppose velocity is constant at 4, real output is constant at 10, and the price level is 2. From this initial situation, the central bank increases the nominal money supply to 6. If velocity and output remain unchanged, by how much will the price level increase?
A) 2.4%

B) 20%

C) 24%

D) 50%

Answers: 3

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Suppose velocity is constant at 4, real output is constant at 10, and the price level is 2. From thi...