7. In the long run, what is the effect of a 5 percent increase in the quantity of money, other things remaining the same? Quantity of Price money level Real GDP (billions of Velocity of (2005 = (billions of Year dollars) circulation 100) 2005 dollars) 2013 100 II 1.000 2014 1 10 1,000 2015 121 1,000 8. The table above gives data for the nation of Quantoland, a small nation to the south. In 2013, 2014, and 2015, real GDP equals potential GDP. a. Complete the table. b. Calculate the percentage change in the quantity of money in 2013 and 2014. Then calculate the percentage change in the price level in 2014 and 2015. c. What key proposition is illustrated in your answer to part (b)