Suppose that the nominal quantity of money is $200 billion and the value of nominal GDP is $1 trillion. It must be the case that
A) the economy is suffering from inflation.
B) the average price paid for a "typical" good is $5.
C) there will be a shortage of money balances in the economy.
D) the velocity of circulation is 5.
D
Economics
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The gold standard is a type of
A) fixed exchange rate system. B) flexible exchange rate system. C) floating exchange rate system. D) managed exchange rate system.
Economics
If the price of pineapple juice was $4.50 a gallon and it is now $5.75 a gallon, what is the percentage change in price?
A) 7.8 percent B) 12.5 percent C) 27.7 percent D) 57.5 percent
Economics