Consider a Simple Economy That Produces Only Chocolates

question 33

Multiple Choice

Consider a simple economy that produces only chocolates.The economy produces 100 bars of chocolates in a year, and a chocolate bar costs $5.If the quantity of money supplied in the economy is $25, then the velocity of money is:

• A)2.5
• B)10
• C)20
• D)1000

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Definitions:

U.S.

Refers to the United States, a country located primarily in North America comprising 50 states and a federal district.

Need to Belong

An inherent human drive to seek connections and acceptance within social groups.

Thirst

The physical sensation of needing to drink fluids, reflecting the body's requirement for hydration.

Hunger

A physical sensation or condition of feeling the need to eat, often resulting from the body's need for nutritional intake.