If Nominal GDP Is $7,700 Billion and M₁ Is $1,000

question 201

Multiple Choice

If nominal GDP is $7,700 billion and M₁ is $1,000 billion, then velocity is

• A)10.7.
• B)7.7.
• C)7.1.
• D)7.0.

---

Definitions:

Purchasing System

An organized method used by businesses to acquire goods and services, involving procedures for requisition, selection, and procurement.

Group Norms

Unwritten set of expectations for group members—what people ought to do; basic principle to follow in getting along with coworkers

Orientation Programs

Training sessions designed to familiarize new employees with the policies, procedures, and culture of an organization.

Being Civil

The act of being polite and respectful in interactions with others, demonstrating good manners and courtesy.