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Economics

Suppose the velocity of money is constant at 5 transactions per year, the price level for this year is $1, and real GDP this year is $8,000,000.

Suppose the economy's output of goods and services rises by 5% each year. What will nominal GDP be equal to next year if the Fed keeps the money supply constant?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91566102

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