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If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is
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If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is

User Sam McAfee
by
8.2k points

1 Answer

3 votes
We use the formula:

[(MoneySupply)(Velocity)]
_____________________ = Price level
Real GDP

So, fill all the given details in and the resulting answer is 1.55.
User Amreesh Tyagi
by
7.8k points
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