If the velocity of circulation is constant, real GDP is growing at 3 percent a year, the
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If the velocity of circulation is constant, real GDP is growing at 3 percent a year, the real interest rate is 2 percent a year, and the nominal interest rate is 7 percent a year, calculate the inflation rate, the growth rate of money, and the growth rate of nominal GDP.
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The inflation rate is the difference between the nominal interest ...View the full answer
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