If the Money GDP Is $600 Billion And, on the Average

question 153

Multiple Choice

If the money GDP is $600 billion and, on the average, each dollar is spent three times per year, then the amount of money demanded for transactions purposes:

• A)will be $1800 billion.
• B)will be $600 billion.
• C)will be $200 billion.
• D)cannot be determined from the information given.

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Definitions:

Transactions Account

A bank account that allows for the direct deposit and withdrawal of funds without any limitation on the frequency of transactions.

Global Database

A comprehensive collection of data organized and stored digitally, accessible worldwide.

Technical Standards

Specifications and guidelines established by consensus among professionals that ensure the reliability, safety, and interoperability of products, services, and systems.

Government Regulations

Government regulations are legal directives issued by government bodies to control or manage activities within various industries, often for public welfare, safety, or market fairness.