If Nominal GDP Is $800 Billion And, on Average, Each

question 377

Multiple Choice

If nominal GDP is $800 billion and, on average, each dollar is spent four times in the economy over a year, then the quantity of money demanded for transactions purposes will be

• A) $200 billion.
• B) $400 billion.
• C) $800 billion.
• D) $3,200 billion.

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Definitions:

Visual Cortex

The region of the brain responsible for processing visual information.

Experience-expectant Development

A process by which the brain develops and modifies itself through ordinary experiences, such as sensory stimulation and movement, which are expected in the environment.

Congenital Cataract

A vision impairment present at birth where the lens of the eye is cloudy or opaque, affecting clarity of vision.

Depth Perception

The ability to perceive the distance of objects from each other and from ourselves.