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If Real GDP Is $9,600 Billion and Nominal Money Supply

Question 21

Multiple Choice

If real GDP is $9,600 billion and nominal money supply is $1,200 billion, then


A) the income velocity of money is 8.0
B) the price level is 8.0
C) the income velocity of money is 1.25
D) the price level is 1.25
E) none of the above

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