The money supply in Tazland is $100 billion.Nominal GDP is $800 billion and real GDP is $200 billion.What are the price level and velocity in Tazland?
A) the price level and velocity are both 8
B) the price level is 8 and velocity is 4
C) the price level and velocity are both 4
D) the price level is 4 and velocity is 8
Correct Answer:
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