In 2008, nominal GDP was equal to $14,265 billion while the M1 money supply was $1,423 billion. What was the velocity of the M1 money stock?
a. 1.0
b. 10.0
c. 1.8
d. 0.1
B
You might also like to view...
Farmers selling some of their soybeans in storage because they anticipate a lower price of soybeans in the near future would cause a
A. movement up along the current supply curve of soybeans. B. rightward shift in the current supply of soybeans. C. movement down along the current supply curve of soybeans. D. leftward shift in the current supply of soybeans.
The economist who won the Nobel Prize in Economics in 1995, and whose name is closely connected with rational expectations theory, is
A) Robert Solow. B) Paul Samuelson. C) Milton Friedman. D) Robert Lucas. E) John Maynard Keynes.
A change in the price of one good results in a rotation of the budget line, so that it is steeper or flatter.
Answer the following statement true (T) or false (F)
Which of the following is a determinant of productivity?
a. human capital per worker b. physical capital per worker c. natural resources per worker d. All of the above are correct.