If nominal Gross Domestic Product (GDP) is $5 trillion and velocity is 5, then
A. actual money balances held by the nonbanking public are $1 trillion.
B. actual money balances held by the nonbanking public are $5 trillion.
C. real Gross Domestic Product (GDP) equals $100 trillion.
D. real Gross Domestic Product (GDP) equals $500 trillion.
Answer: A
Economics
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a. True b. False Indicate whether the statement is true or false
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