Exhibit 22-2

-According to the data in Exhibit 22-2, in 2016, velocity equaled about
A)10.1.
B)8.0.
C)6.6.
D)2.7.
E)1.5.

Question

Exhibit 22-2
 
-According to the data in Exhibit 22-2, in 2016, velocity equaled about
A)10.1. 
B)8.0. 
C)6.6. 
D)2.7. 
E)1.5.

Quizplus · Accepted Answer

Velocity is calculated as the ratio of nominal GDP to the money supply. Without the specific data from Exhibit 22-2, the correct answer cannot be determined from the information provided. However, based on the options given, if the correct answer is B) 8.0, it means that in this scenario, the velocity of money was calculated to be approximately 8.0 times the money supply for the year 2016.

Exhibit 22-2 -According to the Data in Exhibit 22-2, in 2016, Velocity