The Equation of Exchange States That the Price Level Is

question 489

Multiple Choice

The equation of exchange states that the price level is equal to

• A) velocity of circulation multiplied by the quantity of money divided by real GDP.
• B) the velocity of circulation.
• C) the quantity of money.
• D) real GDP multiplied by the velocity of circulation divided by nominal GDP.

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Definitions:

Carol Gilligan

A psychologist known for her work in ethical relationships and moral development, especially in the context of gender differences.

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