If Real GDP Equals 5,000, Nominal GDP Equals 10,000, and the Price

question 53

Multiple Choice

If real GDP equals 5,000, nominal GDP equals 10,000, and the price level equals 2, then what is velocity if the money stock equals 2,000?

• A) 2
• B) 2.5
• C) 10
• D) 5

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Definitions:

Pan-

A prefix meaning "all" or "every," indicating inclusiveness or a broad scope, as in "pan-African" or "panacea."

Iasis

Refers to a condition or disease state, often used as a suffix in medical terms.

Ectasis

An extension or dilation of a hollow organ or vessel within the body.

Edema

Swelling caused by excess fluid trapped in the body's tissues, commonly occurring in the feet, ankles, and legs.