Multiple Choice
Velocity in the country of Coruba is always stable. In 2018, the money supply was $100 billion and real GDP was $300 billion. In 2019, the money supply increased by 10 percent, real GDP increased by 5 percent, and nominal GDP equalled $660 billion. By how much did the price level increase between 2018 and 2019?
A) 2.38 percent
B) 4.76 percent
C) 9.50 percent
D) 10.0 percent
Correct Answer:
Verified
Correct Answer:
Verified
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