If Real Output in an Economy Is 1,000 Goods Per

question 54

Multiple Choice

If real output in an economy is 1,000 goods per year,the money supply is $300,and each dollar is spent an average of 4 times per year,then according to the quantity equation,the average price level is

• A)3.33.
• B)0.83.
• C)1.20.
• D)13.33.

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Definitions:

Melanosomes

Organelles within cells that synthesize, store, and transport melanin, the pigment responsible for skin, hair, and eye color.

Dermal

Pertaining to the skin, particularly its deeper layer known as the dermis which contains nerve endings, glands, and vessels.

Melanoma

A type of skin cancer that develops from the pigment-producing cells known as melanocytes; it is the most serious form of skin cancer.

Freckles

Small, pigmented spots on the skin, typically appearing as a result of exposure to sunlight and predominantly seen in people with lighter skin.