Discussion:
The country of Arkanslavia had money supplies of 487 million arkollars in 2010 and 311 million in 2011. They have real output of 719 million arkollars in both years. In Arkanslavia velocity was 2 in 2010 but changed to 9 in 2011. What is the difference in the price level between 2011 and 2010? (i.e. what is P2011 - P2010) You will be asked to show your work