If the Nominal GDP Is $477 Billion and the Velocity

question 16

Multiple Choice

If the nominal GDP is $477 billion and the velocity of money is 4.5, then the money supply is

• A) $122 billion.
• B) $98 billion.
• C) $106 billion.
• D) $477 billion.

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Definitions:

Fifth Amendment

A provision of the U.S. Constitution that provides for several rights of individuals against government actions, including self-incrimination and double jeopardy.

Federal Government

The national government of a federated state, which is responsible for the areas of governance assigned to it by the constitution.

State Governments

The governing bodies of individual states in a federal system, responsible for local law enforcement, education, and other intra-state issues.

Supreme Court

The highest judicial body in a jurisdiction, often having the final say in matters of law and constitutionality.