Suppose the money supply is $8 trillion and nominal GDP is $14.2 trillion. What is the velocity of money?
A) 1.8
B) 8.0
C) 112
D) We cannot compute it without knowing real GDP.
Correct Answer:
Verified
Q72: If productivity growth is 2 percent and
Q73: Suppose the U.S. money supply increases from
Q74: According to the quantity theory:
A)unemployment is everywhere
Q75: The quantity theory of money implies that
Q76: If the money supply is 500 and
Q78: The quantity theory of money concludes that
Q79: The equation of exchange is expressed as:
A)MR
Q80: If the velocity of money is about
Q81: Suppose the money supply increases by 10
Q82: The quantity theory of money:
A)does not explain
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