Using the Quantity Theory of Money , explain why the US had…
Using the Quantity Theory of Money , explain why the US had a spike in inflation post-COVID. You may refer to the graphs below, which include the changes in the money supply, inflation, real GDP, and velocity during 2020 COVID and post-COVID (2021-2022). Specifically, discuss what happened to each term of the equation post-COVID and why. Be sure to identify which term of the equation is the inflation rate.
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