The Velocity of Circulation Is

question 180

Multiple Choice

The velocity of circulation is

• A) the rate of change of the GDP deflator.
• B) the average number of times a dollar of money is used in a year to buy goods and services in GDP.
• C) the changes in the purchasing power of money over a given time period.
• D) constant.

---

Definitions:

Own Price Elasticity

Own price elasticity measures the responsiveness of the quantity demanded of a good to a change in its own price.

Market Share

The percentage of an industry's total sales that is earned by a particular company over a specified time period.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Gas Station

A facility where gasoline (petrol) and often other fuels and automotive products are sold to motorists.