If the Amount of Money in Circulation Is $180 Billion

question 144

Multiple Choice

If the amount of money in circulation is $180 billion and the value of the economy's total output is $540 billion, then the

• A) circulation period of money must be one-fourth of a year.
• B) velocity of money is 4.
• C) average price per final good sold is $3.
• D) velocity of money is 3.