Real GDP Is $2,000 Billion,the Price Level Is 120,and the Velocity

question 77

Multiple Choice

Real GDP is $2,000 billion,the price level is 120,and the velocity of circulation is 5.Nominal GDP is

• A)$24 billion.
• B)$600 billion.
• C)$2,000 billion.
• D)$2,400 billion.
• E)$166.67 billion.

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Definitions:

Young Children

A reference to individuals who are in the early stages of their childhood, typically ranging from infancy to elementary school age.

Spring Tide

A tide just after a new or full moon, when there is the greatest difference between high and low water.

Neap Tide

Lower-than-average high tides and higher-than-average low tides caused when the Sun’s gravity partially offsets the effects of the Moon’s gravity.

High Tide

The maximum height to which water in the ocean rises relative to the land in response to the gravitational pull of the Moon; also refers to the time when such high levels occur.