If nominal GDP equals $10 trillion and the velocity of circulation is 5, then
A) real GDP is $2 trillion.
B) the quantity of money is $50 trillion.
C) the quantity of money is $2 trillion.
D) the real value of the quantity of money is $10 trillion.
C
You might also like to view...
The amount of loans that a bank can create is limited by
A) a law enacted by Congress. B) the bank's excess reserves. C) a directive from the Federal Reserve System, which takes into account the bank's financial stability. D) the real interest rate. E) the bank's government securities.
It has been claimed that foreign governments have attempted to influence votes in the U.S. that would promote policies of protectionism within the U.S
On the surface this appears to be totally illogical and counter intuitive, as this would presumably lessen the possibilities of foreigners' exports to the U.S.
What would make the demand for labor more elastic?
What will be an ideal response?
A market consequence of the establishment of a price floor program is that price will be:
a. too low, and an excess supply will result. b. too low, and a shortage will result. c. too high, and an excess supply will result. d. too high, and a shortage will result. e. below the market equilibrium price.