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Suppose the money stock grows at 9 % per year, real GDP grows at 2 % per year, the velocity of money is constant and

Suppose the money stock grows at

9 %

per year, real GDP grows at

2 %

per year, the velocity of money is constant and the nominal interest rate is

8 % .

Then the real interest rate is

6 %

4 %

3 %

None of the other answers.

5 %

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