(1) Suppose that the money supply of a country this year is $500 billion, its nominal GDP is $10 trillion, and its real GDP is $5 trillion. What is the general price level (GDP deflator)? What is the velocity of money?

(2) Assuming that the velocity of money circulation and the money supply remain the same next year, what will be the nominal GDP and price level when real GDP increases by 5%?

(3) If a Fed wants to keep the price level constant, how much money supply should it determine next year?

(4) If a Fed wants inflation to be 10% next year, how much money supply should it determine for next year?