The equation of exchange is a formula indicating that the number of monetary units times
A. nominal Gross Domestic Product (GDP) is identical to the price level times the number of times each monetary unit is spent on final goods and services.
B. real Gross Domestic Product (GDP) is identical to the price level times the number of times each monetary unit is spent on final goods and services.
C. the number of times each monetary unit is spent on final goods and services is identical to the price level times real Gross Domestic Product (GDP).
D. the price level is identical to the number of times each monetary unit is spent on final goods and services times real Gross Domestic Product (GDP).
Answer: C
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