If M = the Money Supply; Y = Real Output

question 72

Multiple Choice

If M = the money supply; Y = real output, P = the price level, and V = velocity, which of the following equals the velocity of money?

• A) (Y × M)/P
• B) (P × M)/Y
• C) (P × Y)/M
• D) (P × Y) + M

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Definitions:

Republican Government

A system of governance where elected representatives of the populace hold authority, and the leaders govern in accordance with the principles of law.

National Governments

Governments that represent the whole nation, possessing the authority to govern and enact laws over a sovereign state or country.

Lord North

A British statesman who served as Prime Minister of Great Britain from 1770 to 1782, best known for his role during the American Revolution.

Revolutionary War

The Revolutionary War, also known as the American Revolution, was a conflict between Great Britain and its Thirteen Colonies in America, leading to American independence.