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Formula for calculate the difference in the price level

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Reference no: EM13196553

The country of Arkanslavia had money supplies of 183 million arkollars in 2010 and 644 million in 2011. They have real output of 791 arkollars in both years. In Arkanslavia velocity was 7 in 2010 but changed to 5 in 2011. What is the difference in the price level between 2011 and 2010? 

What formula do i use? 

Reference no: EM13196553

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