Home / Questions / Use the dynamic version of the quantity equation to answer parts (a) through (c). (a) If ...
Use the dynamic version of the quantity equation to answer parts (a) through (c).
(a) If income is growing at the annual rate of 4% and the money supply is growing at the annual rate of 6%, what must be the change in velocity if prices only increase by 1%?
(b) What monetary growth rate is required to maintain price stability (∆P/P = 0) if real income is expected to grow by 5% and velocity is expected to fall by 3%?
(c) If the nominal money supply grows by 8%, prices rise by 6%, and velocity rises by 1%, what must have happened to real income?
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