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1. Suppose that the money market equilibrium equation mtpt=Et[pt+1pt] where >0, and the money supply is governed by the process mt+1=m+(1)mt+et+1;Etet+1=0 where m is a

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1. Suppose that the money market equilibrium equation mtpt=Et[pt+1pt] where >0, and the money supply is governed by the process mt+1=m+(1)mt+et+1;Etet+1=0 where m is a constant. Using any method of solution, derive the solution for the current price level pt

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