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Suppose that the money supply grows at 5% per year, the velocity of money is declining at 0.5% per year, and real GDP grows at
Suppose that the money supply grows at 5% per year, the velocity of money is declining at 0.5% per year, and real GDP grows at 2.5% per year. What is the inflation rate?
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Intermediate Microeconomics
Authors: Hal R. Varian
8th edition
393934241, 978-0393934243
