If the Velocity of Money Is 10 and Money Supply

question 160

Multiple Choice

If the velocity of money is 10 and money supply is $100, then nominal GDP is _____

• A) $1.
• B) $10.
• C) $100.
• D) $1,000.
• E) $2,000.

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Definitions:

Premium Tax Credit

A refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace.

Household Income

The total gross income before taxes of all household members over a certain age, typically used for financial assessments.

American Opportunity Tax

A credit that allows taxpayers to reduce their federal income tax based on qualified education expenses paid for themselves, a spouse, or a dependent.

Lifetime Learning Credits

A tax credit available to students enrolled in eligible educational institutions, aimed at reducing tax liability for tuition and certain related expenses.