If nominal GDP is $4,000 billion and the amount of money demanded for transactions purposes is $800 billion, it can generally be concluded that
A) the asset demand for money is $3,200 billion.
B) the total demand for money is $4,800 billion.
C) on average, each dollar will be spent five times a year.
D) the supply of money needs to be increased to meet the demand.
Correct Answer:
Verified
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