Multiple Choice
According to the equation of exchange,if GDP equals $2.5 trillion and the money supply equals $1 trillion,the velocity of money
A) must be 2.5.
B) must be 4.
C) must be 0.25 trillion.
D) must be 4 trillion.
E) cannot be determined without knowing what the price level is.
Correct Answer:
Verified
Correct Answer:
Verified
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