What was the approximate nominal interest rate, Microeconomics

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What was the approximate nominal interest rate

Velocity in the country of Aquilonia is always stable. In 2002, the money supply was $100 billion, nominal GDP was $500 billion, and the real interest rate was 3 percent. In 2003, the money supply was $105 billion, and real GDP did not change from its level in 2002. What was the approximate nominal interest rate in 2003?

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Microeconomics: What was the approximate nominal interest rate

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Microeconomics: What was the approximate nominal interest rate

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Recent Questions Asked Microeconomics

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Ask an Expert for Answer!!

Microeconomics: What was the approximate nominal interest rate

Reference No:- TGS054528

Recent Questions Asked Microeconomics

Q : Average sensitivity to the state of the economy

Q : Employees after the entry to record the payroll

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