Suppose that the central bank wants to speed up the economy by increasing the money supply. The bankers estimate that the velocity of money is 2 and the price level is 100 and they both are constant. Using the quantity equation of money, what will be the impact of an $80 million dollar increase in the money supply on the quantity of goods and services in the economy, given an initial money supply of $800 million?
Group of answer choices

The policy would be ineffective, because quantity of good and services would remain the same

The policy would be ineffective, because quantity of good and services would decrease by $4 million

The policy will be effective, because the quantity of goods produced will increase by $1.6 million

The policy would be effective, because quantity of good and services would increase by $8 million