If the money supply is $300,the price level is $4,and real GDP is $1,500,what is the nominal value of output?
A)$1,200
B)$4,500
C)$6,000
D)$180,000
E)$500

Name: If the money supply is $300,the price level is $4,and real GDP is $1,500,what is the nominal value of output? A)$1,200 B)$4,500 C)$6,000 D)$180,000 E)$500
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Question

Quizplus · Accepted Answer

Nominal GDP can be calculated as the product of the price level and real GDP.

Nominal GDP = Price level x Real GDP

Nominal GDP = $4 x $1,500

Nominal GDP = $6,000

If the Money Supply Is $300,the Price Level Is $4,and