Assume that wages and prices are sticky and that we start at a long-run equilibrium. Assume that at this initial point, the growth rate of the money supply is 5%, the growth rate of the velocity of money is 4% and that the real economic growth rate is 3%. Now assume that the Federal Reserve has decided to increase the growth rate of the money supply by 6% and that the Federal Reserve leaves the growth rate of the money supply at this elevated rate.