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Consider the following hypothetical data for 2015 and 2016: (L04) 2015 1,000 2016 1,050 Money supply Velocity Real GDP...
Consider the following hypothetical data for 2015 and 2016: 2015 1,200 Money supply Velocity Real GDP...
Consider the following hypothetical data for 2015 and 2016: 2015 1,200 Money supply Velocity Real GDP 2016 1,320 6 11,340 10,800 The price levels for 2015 and 2016 are: Instructions: Enter your responses rounded to two decimal places. 2015: 2016: Instruction: Enter your response as a whole number. Rate of inflation between 2015 and 2016: %
Nominal GDP 2015 Real GDP 2015 Nominal GDP 2016 Real GDP 2016 25 25 40 39...
Nominal GDP 2015 Real GDP 2015 Nominal GDP 2016 Real GDP 2016 25 25 40 39 The inflation rate between 2014 and 2015 was 4%. The price level change or inflation rate between 2015 and 2016 would be (inflation/deflation/hyperinflation/stagflation/superinflation/disinflation)
Question 20 (6 points) Suppose full employment real GDP is $1,000 billion and the money supply...
Question 20 (6 points) Suppose full employment real GDP is $1,000 billion and the money supply is $800 billion. Suppose also that the monetary velocity is constant and equal to 5. What is the price level? _.00 Now suppose the Fed increases the money supply by 4% and potential real GDP rises by 3%. In the long run, the inflation rate would be _.00% A/
Suppose that this years money supply is $500 billion, nominal GDP is $6 trillion, and real...
Suppose that this years money supply is $500 billion, nominal GDP is $6 trillion, and real GDP is $2 trillion. a. What is the price level? What is the velocity of money? b. Suppose that velocity is constant and the economy's output of goods and services rises by 3% each year. What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant? c. What money supply should the Fed set next...
Page 2 Suppose full employment real GDP is $1,000 billion and the money supply is $800...
Page 2 Suppose full employment real GDP is $1,000 billion and the money supply is $800 billion. Suppose also that the monetary velocity is constant and equal to 5. What is the price level? 00 Page 3: Now suppose the Fed increases the money supply by 4% and potential real GDP rises by 3%. In the long run, the inflation rate would be 00% Page 4 Previous Page Next Page Page 9 of 28 Page 5: Submit Quiz 26 of...
4. Velocity and the quantity equation Consider a simple economy that produces only pies. The following table contains i...
4. Velocity and the quantity equation Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was $320, the price of a pie was $8.00, and the economy produced 600 pies. Fill in the missing values in the following table, selecting the answers closest to the values you calculate. Quantity of Output (Pies) Nominal GDP (Dollars) Year Price Level (Dollars) 8.00...
Suppose that this year's money supply is $500 billion, nominal GDP is $10 trillion and real...
Suppose that this year's money supply is $500 billion, nominal GDP is $10 trillion and real GDP is $5 trillion. a. What is the price level? b. What is the velocity of money? (Please calculate your answers in billions, i.e. leave off the zeros (0) if necessary.) c. Suppose that velocity is constant and the economy's output of goods and services rises by five percent each year. What will happen to nominal GDP and the price level next year if the Fed...
Attempts Keep the Highest: /2 5. Velocity and the equation of exchange Consider a simple economy...
Attempts Keep the Highest: /2 5. Velocity and the equation of exchange Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was 100, the price of a pie was $8.00, and the economy produced 250 pies Fill in the missing values in the following table, rounding to the nearest cent when necessary. Money Supply (Dollars) 100 101...
Consider a simple economy that produces only pies. The following table contains information on the economy's...
Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was 100, the price of a pie was $4.00, and the economy produced 500 pies Fill in the missing values in the following table, rounding to the nearest cent when necessary Money Supply (Dollars) 100 103 Price Level (Dollars) 4.00 Quantity of Output (Pies) 500 500 Nominal GDP...
Fill in the blanks: Price Level Real GDP (Millions of 2010 dollars) Money Supply (Millions of...
Fill in the blanks: Price Level Real GDP (Millions of 2010 dollars) Money Supply (Millions of Dollars) 1.2 150 72 Refer to the above table for a hypothetical economy in 2017. Velocity equaled............... According to the quantity theory of money, if the money supply increases to $74 million, then nominal GDP will increase by $..................million to $....................million.
Consider the following hypothetical data for 2015 and 2016: 2015 1,200 Money supply Velocity Real GDP 2016 1,320 6 11,340 10,800 The price levels for 2015 and 2016 are: Instructions: Enter your responses rounded to two decimal places. 2015: 2016: Instruction: Enter your response as a whole number. Rate of inflation between 2015 and 2016: %
Question 20 (6 points) Suppose full employment real GDP is $1,000 billion and the money supply is $800 billion. Suppose also that the monetary velocity is constant and equal to 5. What is the price level? _.00 Now suppose the Fed increases the money supply by 4% and potential real GDP rises by 3%. In the long run, the inflation rate would be _.00% A/
Page 2 Suppose full employment real GDP is $1,000 billion and the money supply is $800 billion. Suppose also that the monetary velocity is constant and equal to 5. What is the price level? 00 Page 3: Now suppose the Fed increases the money supply by 4% and potential real GDP rises by 3%. In the long run, the inflation rate would be 00% Page 4 Previous Page Next Page Page 9 of 28 Page 5: Submit Quiz 26 of...
4. Velocity and the quantity equation Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was $320, the price of a pie was $8.00, and the economy produced 600 pies. Fill in the missing values in the following table, selecting the answers closest to the values you calculate. Quantity of Output (Pies) Nominal GDP (Dollars) Year Price Level (Dollars) 8.00...
Attempts Keep the Highest: /2 5. Velocity and the equation of exchange Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was 100, the price of a pie was $8.00, and the economy produced 250 pies Fill in the missing values in the following table, rounding to the nearest cent when necessary. Money Supply (Dollars) 100 101...
Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2015, the money supply was 100, the price of a pie was $4.00, and the economy produced 500 pies Fill in the missing values in the following table, rounding to the nearest cent when necessary Money Supply (Dollars) 100 103 Price Level (Dollars) 4.00 Quantity of Output (Pies) 500 500 Nominal GDP...
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