The quantity of money is $1 billion, the price level is 1.10, and real GDP is $10 billion. What is the velocity of money?
What will be an ideal response?
The velocity of money equals 11.
Economics
You might also like to view...
The table above gives the utility Andy receives from different quantities of vanilla ice cream cones. Complete the table
What will be an ideal response?
Economics
A progressive tax
a. is one that taxes those with higher incomes at a higher rate than those with lower incomes. b. takes a similar percentage in the form of taxes from those with higher incomes as it does from those with lower incomes. c. takes a higher percentage of income in the form of taxes from those with lower incomes than from those with higher incomes. d. is any tax in which the dollar amount of taxes paid increases with income.
Economics