The Economics of Money Banking and Financial Markets The Business
Quiz 22: Quantity Theory, Inflation, and the Demand for Money
If the Money Supply Is $600 and Nominal Income Is
If the money supply is $600 and nominal income is $3,000, the velocity of money is A) 1/50. B) 1/5. C) 5. D) 50.
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If the money supply is $500 and nominal income is $4,000, the velocity of money is A) 1/20. B) 1/8. C) 8. D) 20.
If the money supply is $600 and nominal income is $3,600, the velocity of money is A) 1/60. B) 1/6. C) 6. D) 60.
If nominal GDP is $10 trillion, and the money supply is $2 trillion, velocity is A) 0.2. B) 5. C) 10. D) 20.
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