If Nominal GDP Is $12 Trillion, the Price Level Is

question 390

Multiple Choice

If nominal GDP is $12 trillion, the price level is 120, and the quantity of money is $4 trillion, what is the velocity of circulation?

• A) 3
• B) 30
• C) 2.5
• D) 25

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Definitions:

Bipolar Disorder

A mental health disorder marked by extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

OCD

Obsessive-Compulsive Disorder, a mental health condition characterized by unwanted, repetitive thoughts (obsessions) and behaviors (compulsions) that an individual feels compelled to perform.

Identical Twins

Twins who originate from the same fertilized egg, sharing 100% of their genetic material.

Phobia

An excessive and irrational fear reaction to a specific object, situation, or activity, often leading to avoidance behavior.