If velocity is 6 and the quantity of money is $2 trillion, what is nominal GDP?
What will be an ideal response?
$12 trillion
Economics
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In the monetary small open-economy model with a fixed exchange rate, an increase in the foreign price level has which impact on domestic money demand?
A) It increases it. B) It decreases it. C) It has no impact. D) It depends.
Economics
Explain how the prisoners' dilemma can be used to examine pricing strategies in an oligopoly
What will be an ideal response?
Economics
A risk averse individual
a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less than its expected value d. tends to play lots of lotteries
Economics
What are the advantages of vertical integration?
Economics