If Income Is $60 Billion, the Price Level Is 6

question 202

Multiple Choice

If income is $60 billion, the price level is 6, and the stock of money is $36 billion, what is the velocity of money?

• A) 2.4
• B) 3.6
• C) 10
• D) 36

---

Definitions:

Salesperson

An individual who sells goods or services to customers for a living.

Open-End Credit Line

A flexible loan facility that allows borrowers to draw down, repay, and redraw loans up to a specified credit limit.

Finance Charge

The total cost of borrowing, including interest and any other charges assessed by the creditor on a loan or credit.

Unpaid Balances

Amounts owed that have not yet been paid, typically referring to outstanding debts or bills.