If Real GDP Is $10 Trillion and the Velocity of Circulation

question 140

Multiple Choice

If real GDP is $10 trillion and the velocity of circulation is 2, the quantity of money

• A) is $2 trillion.
• B) is $5 trillion.
• C) is $20 trillion.
• D) cannot be determined from the information given.

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Definitions:

Pierre-Simon de Laplace

A French mathematician and astronomer known for his work in celestial mechanics and the formulation of Laplace's equation.

Determinism

The philosophical theory that all events, including moral choices, are completely determined by previously existing causes.

Determinism

The doctrine that all events, including moral choices, are determined by previously existing causes.

Sufficient Natural Explanatory Cause(s)

A principle in philosophy and science that holds that natural phenomena have natural causes that are adequate to fully explain them, dismissing the need for supernatural explanations.