If Nominal GDP Is $4,000 Billion and the Amount of Money

Multiple Choice

If nominal GDP is $4,000 billion and the amount of money demanded for transactions purposes is $800 billion, it can generally be concluded that

A) the asset demand for money is $3,200 billion.
B) the total demand for money is $4,800 billion.
C) on average, each dollar will be spent five times a year.
D) the supply of money needs to be increased to meet the demand.