In 2010 the central bank of a developing country published an inflation target of 1-3%. In 2010, the money supply increased from 6 billion dollars to 8 billion dollars and real GDP grew from 5 billion...

In 2010 the central bank of a developing country published an inflation target of 1-3%. In 2010, the money supply increased from 6 billion dollars to 8 billion dollars and real GDP grew from 5 billion dollars to 6.7 billion dollars. Assuming velocity was constant, according to the quantity theory , was the money growth consistent with the inflation target? Explain.