What would be the inflation rate for equation of exchange

Reference no: EM13179580

If the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange?

Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V = P * Q)

Reference no: EM13179580

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