Multiple Choice
Velocity in the country of Nemedia is always stable.In 2014,the money supply was $100 billion and real GDP was $300 billion.In 2015,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 2014 and 2015?
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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