If Real GDP Is $10 Trillion, the Price Level Is

question 241

Multiple Choice

If real GDP is $10 trillion, the price level is 120, and the quantity of money is $4 trillion, what is the velocity of circulation?

• A) 3
• B) 2.5
• C) 25
• D) 30

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Definitions:

African Americans

A racial or ethnic group in the United States with origins in any of the Black racial groups of Africa, especially those who are descendants of enslaved Africans brought to the U.S.

Frequent Churchgoers

Individuals who attend church services regularly, typically more than once a week.

Parents

Parents are caregivers of offspring in their own species; in humans, they are the mother and father or legal guardians responsible for raising children.

Church Infrequently

The sporadic or occasional attendance at church services, as opposed to regular participation.