Consider the money demand function that takes the form (M/P)d = kY, where M is the quantity of money, P is the price level, k is a constant, and Y is real output. If the money supply is growing at a 10 percent rate, real output is growing at a 3 percent rate, and k is constant, what is the average inflation rate in this economy?

Both types of lines are built on the same plane although they meet different objectives for which they are built.

Step-by-step explanation:

The difference is that in the case of parallel lines they will never cross and in the case of perpendicular lines if they cross each other, which can give rise to the formation of right angles to each other.