The money supply grew at a rate of (1%, 0.5%, 0.63%, 101%?) from 2017 to 2018. Since pie output did not change from 2017 to 2018 and the velocity of money (Increased, decreased, remained the same?), the change in the money supply was reflected (partially or entirely?) in changes in the price level. The inflation rate from 2017 to 2018 was (0.5%, 101%, 1%, 0.63%?).
Year | Quantity of money | Velocity of money | Price level | Quantity of output | Nominal GDP |
2017 | 400 | 10 | 5 | 800 | 4000 |
2018 | 404 | 10 | 5.05 | 800 | 4040 |
Blanks-
1) (404-400)/400*100 = 1%
2) remained the same
3) entirely
4) 1%
The money supply grew at a rate of (1%, 0.5%, 0.63%, 101%?) from 2017 to 2018....
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