Refer to the Given Market-For-Money Diagrams

question 271

Multiple Choice

Refer to the given market-for-money diagrams. If each dollar held for transactions is spent four times per year on the average, we can infer that

• A) real GDP is $800.
• B) nominal GDP is $800.
• C) the money supply must be $800.
• D) nominal GDP is $1,200.

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