sahudeepak3779

Problem I

Real GDP 300 MILLIONS OF Dollars quantity of money was $60 million and the velocity of circulation of money was 10 . In 2012, the price level rose by 10 percent.

1. What was the price level in 2011?
2. What was the real GDP in 2012?
3. What was the velocity of circulation in 2012?
4. What was the quantity of money in 2012?