Consider a simple economy that produces only one good, output. The table below contains information on the economy's out

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Consider A Simple Economy That Produces Only One Good Output The Table Below Contains Information On The Economy S Out 1 (44.62 KiB) Viewed 35 times

Consider a simple economy that produces only one good, output. The table below contains information on the economy's output, money supply, velocity of money and price level. For example, in 2010, the money supply was $500, the price of output was $8, and the economy produced 250 units of output. 2010 2012 Quantity of Money $500 $700 Velocity of Money A 4 Price Level $8 B Quantity of Output 250 300 (round to two decimal places, if necessary) (round to two decimal places, if necessary) times. (round to two decimal places) 1. The value of A is 2. The value of B is 3. Nominal GDP in 2010 is 4. In 2010, the average dollar exchanged hands 5. The inflation rate in 2011 is