Multiple Choice
If on average a dollar is spent five times each year to purchase goods and services in the economy, then
A) the value of velocity must be 0.2.
B) the value of velocity must be 5.
C) the value of nominal GDP divided by the money supply must be 0.2.
D) the value of the money supply divided by nominal GDP must be 5.
Correct Answer:
Verified
Correct Answer:
Verified
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