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If Nominal GDP Is $12,600 Billion and Nominal Money Supply

Question 22

Multiple Choice

If nominal GDP is $12,600 billion and nominal money supply is $6,300 billion, then the income velocity of money is

A) V = $2 billion
B) V = 0.5
C) V = 2
D) V can only be determined if the price level is known
E) none of the above

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