If nominal GDP is $7 trillion, and the money supply is $2 trillion, then what is the velocity of money?

Recall the Application. Greece faced a major financial crisis in 2010 as its budgetary imbalance became quite severe. Since Greece is a member of the Euro-zone, it could no longer ________ as a potential solution to its financial problems

A) depreciate its currency B) raise taxes C) reduce wages and prices D) cut spending

If the numbers of people officially employed and officially unemployed each increased by 10%, while the non-institutional population increased by 15%, what would be the effect?

a. an increase in the unemployment rate and an increase in the labor force participation rate b. an increase in the unemployment rate and a decrease in the labor force participation rate c. No change in the unemployment rate and an increase in the labor force participation rate d. No change in the unemployment rate and a decrease in the labor force participation rate