Velocity remains constant-money supply increases

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Velocity remains constant at 8 and the money supply increases from $200 billion to $300 billion.

The? original, nominal GDP was $ __ trillion? ?(Round your response to two decimal? places)

The ?new, nominal GDP is $ __ trillion? ?(Round your response to two decimal? places)

If real GDP increased by 10?%, then the price level increased by __ ?%? ?(Use the theory of inflation to solve this question.)

Reference no: EM13852499

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