Multiple Choice
If the amount of money in circulation is $140 billion and the nominal GDP of the economy is $840 billion,then which of the following is true?
A) The circulation period of money must be six months.
B) The velocity of money is 2.
C) The average price per final good sold is $6.
D) The velocity of money is 6.
E) The money multiplier must be 2.
Correct Answer:
Verified
Correct Answer:
Verified
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