Suppose that the quantity of money in circulation is fixed but the income velocity of money doubles.

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Suppose that the quantity of money in circulation is fixed but the income velocity of money doubles. If real GDP remains at its long-run potential level, what happens to the equilibrium price level?

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Question Posted: Aug 01, 2016 12:44 PM

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Suppose that the quantity of money in circulation is fixed but the income velocity of money doubles.

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