Question
In the country of Wickman, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 10
In the country of Wickman, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 10 percent per year, and the nominal interest rate is 11%. What is a. the growth rate of nominal GDP? b. the inflation rate? c. the real interest rate?
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
