Suppose Nominal GDP Equaled $10,988 Billion While the M2 Money

question 83

Multiple Choice

Suppose nominal GDP equaled $10,988 billion while the M2 money supply was $6,063 billion. What was the velocity of the M2 money stock?

• A) 0.45
• B) 0.55
• C) 1.81
• D) 2.36

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Definitions:

Enzymes

Biological molecules that significantly speed up the rate of virtually all of the chemical reactions that take place within cells.

Tubules

Small tubes or tunnel-like structures found in various organs and tissues, involved in transport and filtration processes.

Nuclear Receptor

A type of intracellular protein that, upon binding to specific molecules, can regulate the expression of certain genes.

Membrane-bound Receptor

A protein molecule embedded in the cell membrane that receives chemical signals from outside the cell and, upon binding with a specific ligand, initiates a cellular response.