If the Money GDP Is $600 Billion And, on the Average

question 153

Multiple Choice

If the money GDP is $600 billion and, on the average, each dollar is spent three times per year, then the amount of money demanded for transactions purposes:

• A)will be $1800 billion.
• B)will be $600 billion.
• C)will be $200 billion.
• D)cannot be determined from the information given.

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Definitions:

High-Tech Industries

Sectors that involve the development, production, and use of cutting-edge technology and electronic devices.

National Wealth

The total value of all economic assets owned by a country's residents, institutions, and government, minus foreign liabilities.

Richest Households

Familial units that possess a significantly high level of wealth compared to the broader population.

Wealth

The abundance of valuable resources or material possessions, or the control of such assets, which gives an individual or group economic power.