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If Nominal GDP Is $12 Trillion, the Price Level Is

question 192

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If nominal GDP is $12 trillion, the price level is 120, and the quantity of money is $4 trillion, what is the velocity of circulation?


Definitions:

Free Alongside

In shipping, a term indicating that the seller is responsible for the cost of transporting goods to a designated point next to a vessel before loading.

Piracy

is the unauthorized use or reproduction of another's work, often relating to copyright infringement, especially in the context of software, music, and movies.

Registered Ships

Vessels that are officially listed with a specific country's registry to identify the nation of registration and ensure compliance with that nation's laws and regulations.

Sailors

Individuals who operate or work aboard ships, navigating and maintaining them.

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