Multiple Choice
According to the equation of exchange,if nominal GDP equals $6 trillion and the money supply equals $1 trillion,the velocity of money:
A) must be 6.
B) must be 1/6.
C) must be 6 trillion.
D) must be 1/6 trillion.
E) cannot be determined unless we know the price level.
Correct Answer:

Verified
Correct Answer:
Verified
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