The average annual growth rate of real GDP for the United States is about 3%. Assume that
Question:
a. What is the current rate of inflation?
b. What will happen to the inflation rate if the rate of growth of the money supply increases to 7%?
c. What will happen to the inflation rate if the rate of growth of the money supply increases to 7%, and, at the same time, the growth rate of velocity increases to 2%?
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Related Book For 
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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