If on Average, a Dollar Is Spent 4 Times Each

question 7

Multiple Choice

If on average, a dollar is spent 4 times each year to purchase real output, the velocity of money is:

• A) one-fourth.
• B) four.
• C) the money supply divided by 4.
• D) nominal GDP divided by four.

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Definitions:

Determinism

The philosophical doctrine that all events, including moral choices, are determined completely by previously existing causes.

Behavior

The actions or reactions of an organism or system, usually in response to its environment or stimuli.

Environment

The environment or circumstances where a human, animal, or plant exists or functions.

Mind-Brain Problem

A philosophical issue questioning the relationship between consciousness (mind) and physical entities, including the brain.