Given the Following Age Distribution,the Range Is 12,15,8,17,34,43,2,16,43,3

question 4

Multiple Choice

Given the following age distribution,the range is 12,15,8,17,34,43,2,16,43,3

• A)12,3
• B)17
• C)2,17
• D)2,43
• E)cannot compute from the information given

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Definitions:

Equation of Exchange

The equation of exchange is a macroeconomic formula that relates the money supply, its velocity, the price level, and an index of expenditures in an economy, typically expressed as MV = PQ.

Nominal GDP

The gross domestic product measured in current prices, without adjusting for inflation, reflecting the value of all goods and services produced.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including currency, demand deposits, and other liquid instruments.

Velocity of Money

The rate at which money circulates or is exchanged in an economy, used to indicate the economic activity level.