Simplify the Numerical Expression

question 217

Short Answer

Simplify the numerical expression. ( 3 ² 2 ^-1 ) ² Please enter your answer as a fraction.

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Definitions:

Real Interest Rates

The interest rate that has been adjusted to remove the effects of inflation, reflecting the true cost of borrowing.

Velocity of Money

The rate at which money is exchanged in an economy, reflecting the number of times a unit of currency circulates within a specific time period.

Nominal GDP

The market value of all final goods and services produced within a country in a given period, measured in current prices.

Quantity Equation

An equation that relates the quantity of money in an economy to the nominal value of economic output.