Suppose that this year's money supply is $500, nominal GDP is $10,000, and real GDP is $5,000. What is this year's price level? Suppose that this year's money supply is $500, nominal GDP is $10,000, and real GDP is $5,000. What is the velocity of money? Suppose that this year's money supply is $500, nominal GDP is $10,000, and real GDP is $5,000. Suppose that velocity is constant and the economy's output of goods and services (RGDP) rises by 5%. Calculate the new level of nominal GDP if the Fed keeps the money supply constant? Suppose that this year's money supply is $500, nominal GDP is $10,000, and real GDP is $5,000. Suppose that velocity is constant and the economy's output of goods and services (RGDP) rises by 5%. Calculate the new price level if the Fed keeps the money supply constant