1.
Plot Iran's inflation time series for the 1390s (First, get the CPI time series and then plot it). Plot Iran's nominal gross domestic production (GDP) for the same period. Plot Iran's liquidity (broad money) for this period. (Name references.)
a) Calculate and plot money velocity.
b) Explain why an increase in money volume causes an increase in the price level (CPI) using the quantity theory of money.
