What is the equation of exchange

Assignment Help Macroeconomics

Reference no: EM131443676

Answer questions a-e:

a. What is the equation of exchange?

b. In the equation of exchange, if V doubled, what would happen to nominal GDP as a result?

c. In the equation of exchange, if V doubled and Q remained unchanged, what would happen to the price level as a result?

d. In the equation of exchange, if M doubled and V remained unchanged, what would happen to nominal GDP as a result?

e. In the equation of exchange, if M doubled and V fell by half, what would happen to nominal GDP as a result?

Reference no: EM131443676

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