Question Details

The percentage change in nominal income is 


1. If in 1986 nominal GDP was about $500 billion., then the stock of money (M1) was 
a) much more than this b) much less than this 
c) about the same as this d) unrelated to this figure 
Suppose the aggregate supply curve is vertical, velocity is 4, and the money supply increases by 10%. According to the quantity theory of money, 
2. The percentage change in real income is 
a) 0% b) 10% c) 40% d) 2.5% 
3. The percentage change in nominal income is 
a) 0% b) 10% c) 40% d) 2.5% 
4. The percentage change in the price level is 
a) 0% b) 10% c) 40% d) 2.5%



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