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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 2
If nominal GDP is $400, real GDP is $200, and the money supply is $100, then
A) the price level is ½, and velocity is 2.
B) the price level is ½, and velocity is 4.
C) the price level is 2, and velocity is 2.
D) the price level is 2, and velocity is 4.
A) the price level is ½, and velocity is 2.
B) the price level is ½, and velocity is 4.
C) the price level is 2, and velocity is 2.
D) the price level is 2, and velocity is 4.
Explanation
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In an economy, nominal GDP is $400, real...
Essentials of Economics 7th Edition by Gregory Mankiw
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