If Income Is $30 Billion, the Price Level Is 3

question 82

Multiple Choice

If income is $30 billion, the price level is 3, and the stock of money is $18 billion, what is the velocity of money?

• A) 1.4
• B) 1.8
• C) 5
• D) 180

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Definitions:

Retirement

The act of leaving one's job and ceasing to work, typically upon reaching a certain age or for health reasons.

Capital Balances

The amount of capital that remains in a partnership or firm after liabilities have been accounted for, representing the owners' equity.

Partnership Assets

Assets owned by a partnership, representing the investment and contributions of the partners.

Net Income

The income a company retains following the deduction of all expenses and taxes from its total revenue.