Consider the economy of Agrarian with a nominal GDP of $1 trillion, real GDP of $900 billion, and money supply of $50 billion. Agrarian’s central bank is independent from the rest of the government. Suppose commercial banks are required to maintain a reserve requirement of 20% of deposits. Assume that banks do not hold excess reserves. c) Assume that velocity is constant and real GDP increases by 5% each year. What will happen to nominal GDP and the price level next year if the money supply does not change?