10. a) If M is $100, P is $2, and Q is 500, what is the value...
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10.
a) If M is $100, P is $2, and Q is 500, what is the value of the velocity of money?
b) Given the same parameters as in (a), if the velocity of money stays constant, and assuming the economy is at full employment, what will be the level of P if M increases to $120?
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