If velocity is equal to 4, this means that
A) the rate of growth of the money supply is 4.
B) an increase in the money supply will lead to an increase in aggregate supply of 4.
C) each dollar of the money supply is spent on the average 4 times per year.
D) for every 4 dollars of the money supply, nominal GDP will increase by 4.
C
Economics
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Fill in the blank(s) with the appropriate word(s).
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The European Union (EU) is an example of a
A) customs union. B) free trade area. C) reciprocal trade agreement. D) None of the above.
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