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Exercise n.3 Suppose that in Poland the velocity of money is constant. We have the following macroeconomic data: real GDP, +7%; rate of money growth,

Exercise n.3 Suppose that in Poland the velocity of money is constant. We have the following macroeconomic data: real GDP, +7%; rate of money growth, +20%; nominal interest rate, +15%. 1) What is the real interest rate? 2) What is the real interest if the nominal interest rate is 12%? What does this result mean

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