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Suppose Money Supply (M) = $4,000, Real GDP (Y) =

Question 92

Multiple Choice

Suppose money supply (M) = $4,000, real GDP (Y) = $30,000, and nominal GDP = $60,000. Calculate the value of velocity and the price level.

A) V = 7.5; P = 2
B) V = 15; P = 2
C) V = 7.5; P = 0.5
D) V = 15; P = 15

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