Refer to the above diagram for the market for money.If each dollar held for transactions purposes is spent four times per year on the average, we can infer that the:
A)real GDP is $800.
B)nominal GDP is $800.
C)money supply must be $800.
D)nominal GDP is $1,200.

Question

Refer to the above diagram for the market for money.If each dollar held for transactions purposes is spent four times per year on the average, we can infer that the:
A)real GDP is $800. 
B)nominal GDP is $800. 
C)money supply must be $800. 
D)nominal GDP is $1,200.

Quizplus · Accepted Answer

The Answer of  Refer to the above diagram for the market for money.If each dollar held for transactions purposes is spent four times per year on the average, we can infer that the:
A)real GDP is $800. 
B)nominal GDP is $800. 
C)money supply must be $800. 
D)nominal GDP is $1,200.

Refer to the Above Diagram for the Market for Money