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Consider a simple economy that produces only streaming devices. The following table contains information on the economy's money supply, velocity of money, price level, and

Consider a simple economy that produces only streaming devices. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2021, the money supply was $240, the price of a streaming device was $10.00, and the economy produced 600 streaming devices.

Fill in the missing values in the following table, selecting the answers closest to the values you calculate.

Year

Quantity of Money

Velocity of Money

Price Level

Quantity of Output

Nominal GDP

(Dollars)

(Dollars)

(Streaming devices)

(Dollars)

2021 240

10.00 600
2022 252 25 600

The money supply grew at a rate of from 2021 to 2022. Since streaming device output did not change from 2021 to 2022 and the velocity of money , the change in the money supply was reflected in changes in the price level. The inflation rate from 2021 to 2022 was

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