If the Money Supply Is $1,000,the Price Level Is 3,and

question 67

Multiple Choice

If the money supply is $1,000,the price level is 3,and real income (or output) is $5,000,then the velocity of money is _____.

• A)0.2
• B)0.6
• C)1.67
• D)5
• E)15

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Definitions:

Ties

Articles of clothing, typically narrow strips of fabric worn around the neck under the collar, primarily by men for decorative purposes.

Shirts

Pieces of clothing for the upper body, typically with sleeves and a front opening, made for both genders.

Budget Constraint

The limitation on the consumption bundles that a consumer can afford given their income and the prices of goods and services.

Budget Constraint

A limiting factor that individuals or organizations face when deciding how to allocate available resources to meet their needs and desires.