Multiple Choice
If the money supply is $1 trillion and the velocity of money is 5.0, nominal GDP is __________.
A) $200 billion
B) $5 trillion
C) $500 billion
D) Cannot be determined from the information given.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q51: A necessary but not sufficient condition for
Q52: The value of money _ the price
Q53: A highly liquid asset is one that<br>A)
Q54: During the 1930s, the money supply increased
Q55: A bank can make new loans as
Q57: If people lost confidence in the medium
Q58: In the United States, currency is<br>A) backed
Q59: Assume that nominal GDP is $2 trillion
Q60: Rising prices at a fast and furious
Q61: A bank can create new money only