Multiple Choice
If real output in an economy is 1,000 goods per year, the money supply is $300, and each dollar is spent an average of 3 times per year, then according to the quantity equation, the average price level is
A) $0.90.
B) $1.00.
C) $1.11.
D) $1.33.
Correct Answer:
Verified
Correct Answer:
Verified
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