According to the Equation of Exchange, Nominal GDP Equals

question 40

Multiple Choice

According to the equation of exchange, nominal GDP equals

• A) the amount of actual money balances times the income velocity of money.
• B) the amount of actual money balances divided by the income velocity of money.
• C) the price level divided by the income velocity of money.
• D) the price level times the income velocity of money.

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