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The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
Edition 4ISBN: 978-0133859997The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
Edition 4ISBN: 978-0133859997 Exercise 12
If velocity and aggregate output remain constant at 5 and $1,000 billion, respectively, what happens to the price level if the money supply declines from $400 billion to $300 billion?
Explanation
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Initially velocity is 5 and the aggregat...
The Economics of Money, Banking and Financial Markets 4th Edition by Frederic Mishkin
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