When Macroeconomists Say That the Velocity of Circulation Was Equal

question 550

Multiple Choice

When macroeconomists say that the velocity of circulation was equal to 4 in 2008, what they mean is that

• A) on average, each dollar of money in the economy purchased four dollars of goods and services in GDP in 2008.
• B) real output of goods and services in GDP rose by four dollars for each additional dollar of money consumers saved.
• C) consumers held four dollars in wealth for each dollar they spent in 2008.
• D) for each additional dollar of money injected into the economy, the price level rose 4 percent in 2008.

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Definitions:

Acute

Refers to conditions or diseases that appear suddenly and are typically severe but brief in duration.

Reactive

Pertaining to a response to a stimulus or situation, often implying a lack of initiative or proactive action.

Stressful Life

Conditions or situations in one's life that cause physical or emotional tension.

Schizophrenia

A mental health disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior, often resulting in hallucinations, delusions, and cognitive difficulties.