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enrique3300
30.05.2021 •
Business
In a small economy, the quantity of money circulating in the economy is $2.5 million. Real GDP for the current year is $5 million, and the average price level is 2. What is the velocity of money
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Ответ:
Velocity of money = 4
Explanation:
Given:
Real GDP = $5 million
Quantity of money circulating = $2.5 million
Average price level = 2
Find:
Velocity of money
Computation:
Velocity of money = [Real GDP x Average price level] / Quantity of money circulating
Velocity of money = [$5 million x 2] / $2.5 million
Velocity of money = [$10 million] / $2.5 million
Velocity of money = 4
Ответ:
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