Question
If the money supply is $60 billion, the velocity of money is 8, and Real GDP is $300 billion, then the price level equals? I
If the money supply is $60 billion, the velocity of money is 8, and Real GDP is $300 billion, then the price level equals? I know the answer for the price level is 1.6. I need to know the formula on how to figure that out.
Thanks!!!
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
