The Money Supply in Muckland Is $100 Billion

question 68

Multiple Choice

The money supply in Muckland is $100 billion.Nominal GDP is $800 billion and real GDP is $200 billion.What are the price level and velocity in Muckland?

• A)The price level and velocity are both 8.
• B)The price level is 2 and velocity is 8.
• C)The price level and velocity are both 4.
• D)The price level is 4 and velocity is 8.

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