Provide an Appropriate Response

question 79

Multiple Choice

Provide an appropriate response.
-A nation of 100 million people is growing at a rate of 4% per year. Use the exact double time formula to determine what the population will be in 33 years.

• A)102 million
• B)191 million
• C)365 million
• D)250 million

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Definitions:

Velocity of Money

The velocity of money refers to the rate at which money circulates within an economy, moving from transactions in goods and services to new transactions over a specific time frame.

Aggregate Spending

The total amount of spending by all sectors of an economy on goods and services.

Inflation

The speed at which the cumulative price for goods and services heightens, lowering the power to make purchases.

Money Demand

The desire or need for holding money as opposed to investing or spending it.