If Real Output in an Economy Is 1,000 Units of Goods

question 58

Multiple Choice

If real output in an economy is 1,000 units of goods per year, the money supply is €300, and each euro is spent 3 times per year, then the average price of goods is

• A) €0.90 per unit.
• B) €1.11 per unit.
• C) €1.50 per unit.
• D) €1.33 per unit.

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Definitions:

Customer Insights

Deep understanding and analysis of customers' behaviors, needs, and motivations, often derived from data analysis and market research.

Strategy Formation

The process of developing a set of critical decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it.

Product Offerings

The complete set of products and services that a company makes available to consumers.