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:

Analogical Thinking

A cognitive process of transferring information or meaning from a particular subject to another based on their similarity.

Metaphorical Thinking

A cognitive process that uses metaphor or symbolic comparison to understand and conceptualize complex ideas or phenomena by relating them to familiar objects or concepts.

Creativity

The ability to produce original and valuable ideas or solutions by thinking beyond established patterns or perspectives.

Incubation

Unconscious processing that works on a specific problem while the mind is otherwise occupied.