If Real Output in an Economy Is 1,000 Units of Goods

question 49

Multiple Choice

If real output in an economy is 1,000 units of goods per year, the money supply is R300, and each euro is spent 3 times per year, then the average price of goods is

• A)R0.90 per unit.
• B)R1.11 per unit.
• C)R1.50 per unit.
• D)R1.33 per unit.