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If the central bank increases the money supply in an economy by 3%, the velocity of money is constant, and the real GDP is also
If the central bank increases the money supply in an economy by 3%, the velocity of money is constant, and the real GDP is also growing at 3%, then which of the following statements about the price level is true? (2 points)
The change in the price level is 3%. | |
The change in the price level is 0%. | |
The change in the price level is 6%. | |
The change in the price level is 3%. | |
The change in the price level is 1%. |
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