The money supply in Muckland is $100 billion. Nominal GDP is $800 billion and real GDP is $200 billion. What are the price level and velocity in Muckland?
a. The price level and velocity are both 8.
b. The price level is 2 and velocity is 8.
c. The price level and velocity are both 4.
d. The price level is 4 and velocity is 8.
d
Economics
You might also like to view...
In 2014, the typical Bangladeshi had about
a. more than half the real income of a typical American a century ago. b. the same real income of a typical American a century ago. c. 2 times as much real income as that of a typical American a century ago. d. 4 times as much real income as that of a typical American a century ago.
Economics
Do tax increases reduce real GDP?
What will be an ideal response?
Economics