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ECONOMICS MCQ- NOV 2004 P3 Q 24

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dasani0708

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24 Assuming a constant income velocity of circulation of money, if real output grows by 5 %, and the
money supply grows by 2 %, what will be the approximate change in the price level?
A –3 % B +2 % C +3 % D +7 %
How to get the answer.
 
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