If Nominal GDP = $15 Trillion and the Quantity of Money

question 510

Multiple Choice

If nominal GDP = $15 trillion and the quantity of money is $3 trillion,what is the velocity of circulation?

• A) 16
• B) 8
• C) 5
• D) 2

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Definitions:

Quandary Ethics

A framework for addressing ethical decisions that present a significant conflict of principles or values, leading to uncertainty on the right course of action.

Golden Mean

In philosophy, particularly Aristotelian ethics, the desirable middle between two extremes, one of excess and the other of deficiency.

Principle

A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.

Moderation

The quality of being moderate and avoiding extremes in behavior or expression, advocating for balance and restraint.