In the country of Sparta, mnoney supply equals 13 million drams, real GDP is 65 million drams, the price level is 1.2, and the velocity of money is 6. a. What is the value of its nominal GDP? Nominal...


In the country of Sparta, mnoney supply equals 13 million drams, real GDP is 65 million drams, the price level is 1.2, and the velocity of<br>money is 6.<br>a. What is the value of its nominal GDP?<br>Nominal GDP: $<br>million drams.<br>b. If, in the next year, V remains constant and real GDP increases to 78 million drams, what must happen to money supply in order to<br>keep prices stable? Round your answer below to 1 decimal place.<br>Money supply must (Click to select) v to $<br>million drams.<br>< Prev<br>38 of 43<br>Next ><br>

Extracted text: In the country of Sparta, mnoney supply equals 13 million drams, real GDP is 65 million drams, the price level is 1.2, and the velocity of money is 6. a. What is the value of its nominal GDP? Nominal GDP: $ million drams. b. If, in the next year, V remains constant and real GDP increases to 78 million drams, what must happen to money supply in order to keep prices stable? Round your answer below to 1 decimal place. Money supply must (Click to select) v to $ million drams. < prev="" 38="" of="" 43="" next="">

Jun 10, 2022
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