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Money growth and inflation

AP.MACRO: POL‑3 (EU), POL‑3.A (LO), POL‑3.A.1 (EK), POL‑3.A.2 (EK), POL‑3.A.3 (EK)


Assume that wages and prices are fully flexible and all inflation is correctly anticipated.
According to the quantity theory of money, what would be the impact of expansionary monetary policy on real output and the price level?
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