If the velocity of money is about 1.8 and nominal GDP is $14.4 trillion, what is the money supply?
A. $14.4 trillion
B. $8.0 trillion
C. $1.8 trillion
D. We cannot compute the money supply from the data given.
Answer: B
You might also like to view...
In an open economy, the quantity demanded of bikes in the domestic market is ________.
A. 20,000 B. 80,000 C. 50,000 D. 100,000
When the domestic money prices of goods are held constant
A) a nominal dollar appreciation makes U.S. goods cheaper compared with foreign goods. B) a nominal dollar depreciation makes U.S. goods less appealing in foreign markets. C) a nominal dollar appreciation does not affect the prices of U.S. goods. D) a nominal dollar depreciation makes U.S. goods more expensive compared with foreign goods. E) a nominal dollar depreciation makes U.S. goods cheaper compared with foreign goods and a nominal dollar appreciation makes U.S. goods more expensive compared with foreign goods.
The increase in the quantity of labor supplied in response to a higher wage is called the:
A. price effect. B. labor effect. C. income effect. D. substitution effect.
The aggregate production function shows how much output the economy can produce
a. with different quantities of labor, land, capital and states of technology b. with different quantities of labor and capital, for given amounts of land and a given state of technology c. with different quantities of labor, for given amounts of land and capital, and a given state of technology d. with a given amount of money e. with different amounts of money and given amounts of land, labor, capital, and a given state of technology