Assume an economy where only burgers are traded. In a year, 100 burgers are traded at the rate of $5 per burger. Assume two scenarios:
a. The economy has $100 in the form of 20 $5 bills.
b. The economy has $100 in the form of 100 $1 bills.Calculate the velocity of money for both situations.

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The Answer of Assume an economy where only burgers are traded. In a year, 100 burgers are traded at the rate of $5 per burger. Assume two scenarios:
a. The economy has $100 in the form of 20 $5 bills.
b. The economy has $100 in the form of 100 $1 bills.Calculate the velocity of money for both situations.

Assume an Economy Where Only Burgers Are Traded