If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is

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asked Oct 17, 2017 211k views

1 Answer

Amreesh Tyagi · Answer 1 · 2017-10-21T08:04:41+0000

We use the formula:

[(MoneySupply)(Velocity)]
_____________________ = Price level
Real GDP

So, fill all the given details in and the resulting answer is 1.55.

If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is

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