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bld-6873088unbNodeld-2569997508deploymentld-567221146989404713414479848elsEN-978133709654 Homework (Ch 30) Due on Mar 26 at 11 59 PM COT Back to Assigme Attempts: Average: 12 4. Velocity and the quantity equation Consider a simple economy that prodaces only pens. The following table contains information on the economys money supply, velocity of money price level, and output. For example, in 2014, the money supply was $400, the price of a pen was $5.00, and the economy produced 800 pens. Fia in the missing values in the folowing table, selecting the answers closest to the values you calculate Quantity of Money (Dollars) 400 Price Level (Dollars) 5.00 Quantity of Output (Pens) 800 800 Nominal GDP (Dollars) Year 2014 2015 Velocity of Money 10 The money supply grew at a rate offrom 2014 to 2015. Since pen output did not change from 2014 to 2015 and the velocity of money 一, the dange in the money supply was reflected changes i, the price level. The inflation rate from 2014 to 2015 was hout saving ELL
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