If an Economy Produces 4,000 Units of Output When the Price

question 151

Multiple Choice

If an economy produces 4,000 units of output when the price level is $2 and the velocity of money is 8, what is the money supply?

• A) $1,000
• B) $8,000
• C) $2,000
• D) $4,000

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Definitions:

Good Deeds

Acts of kindness or helpfulness usually intended to benefit others.

Self-Serving Bias

The common human tendency to attribute positive events to their own character but attribute negative events to external factors.

Intermediate-acting Insulin

A type of insulin with a delayed onset and longer duration of action, used in diabetes management to control blood sugar levels.

Short-acting Insulin

A type of insulin that starts working shortly after injection and lasts for a few hours, used to control blood sugar levels in diabetes.