Velocity in the Country of Shem Is Always Stable

question 111

Multiple Choice

Velocity in the country of Shem is always stable.In 2014,the money supply was $200 billion and the GDP price deflator was four times as high as it was in the base year.In 2015,the money supply increased to $240 billion,the price level increased by 15 percent,and nominal GDP equalled $1200 billion.By how much did real GDP increase between 2014 and 2015?

• A) 0.45 percent
• B) 4.35 percent
• C) 7.45 percent
• D) 20 percent

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Definitions:

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