Multiple Choice
Suppose a country has a velocity of money equal to 12 and a nominal GDP of $30 billion. This means that each dollar in this economy is supporting approximately:
A) $10 in total income.
B) $30 in total income.
C) $1.5 in total income.
D) $12 in total income.
Correct Answer:
Verified
Correct Answer:
Verified
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