or subsistence, what does production look like? First, what is 100% of time is spent fishing? Second, what if 100% of time is spent chopping coconuts?…
September 3, 2020
Refer to the above graph. Which combination would best explain a shift in real domestic output from Q 1 to Q 2 ?
September 3, 2020

The quantity equation tells us that, in the long run, when the economy is at potential GDP, an increase in the growth of the money supply will…

  • always increase inflation by the same amount if velocity is constant.
  • increase inflation by a smaller amount if velocity increases.
  • increase inflation by a larger amount if velocity decreases.
  • always increase inflation.
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