The quantity of money in an economy is $9 million, and the velocity of circulation is 3. Nominal GDP in this economy is _________.
A) $6 million
B) $9 million
C) $27 million
D) $3 million
Correct Answer:
Verified
Q399: In the short run, when the Fed
Q400: Q401: If M = $100, Y = $500 Q402: The equation of exchange states that the Q403: The equation of exchange Q405: Which of the following equations represents the Q406: In the quantity theory of money, the Q407: If real GDP is $10 trillion and Q408: If an economy has a velocity of Q409: The equation of exchange becomes the same
A) cannot be used
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