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ECONOMICS EC101 Fisheria is a country in which the quantity theory of money operates

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January 2nd, 2018

Fisheria is a country in which the quantity theory of money operates. the country has a constant population, capital stock, and technology. in 2010, real GDP was $300 million, the quantity of money was $60 and the velocity of circulation of money was 10. In 2011, the price level rose by 20 percent.1. Calculate the price level in 2010?2. What was real GDP in 2011?3. What was the velocity of circulation in 2011?4. What was the quantity of money in 2011?

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