If the economy's real GDP is growing at 3 percent each year and ...

[naturalchemist]

If the economy's real GDP is growing at 3 percent each year and velocity is constant, for the price level to increase:
 a. the money supply would have to grow at more than 3 percent per year.
  b. the money supply would have to grow at exactly 3 percent per year.
  c. the money supply would have to grow at less than 3 percent per year.
  d. the money supply would have to remain stable.

Question 2

Other things equal, advances in technology make resources more productive.
 a. True
  b. False
  Indicate whether the statement is true or false

[Viet Thy]

Answer to Question 1

a

Answer to Question 2

True

[naturalchemist]

Thanks for the timely response, appreciate it

[kishoreddi]

Gracias!