If Real Output Is $25 Billion, the Price Level Is

question 167

Multiple Choice

If real output is $25 billion, the price level is 5, and velocity is 5, what is the stock of money?

• A) $1 billion
• B) $10 billion
• C) $25 billion
• D) $625 billion

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Definitions:

Physical Nature

The intrinsic physical characteristics and properties of an object or person.

Specific Performance

A legal remedy in which a court orders the party at fault to fulfill their obligations under a contract, rather than providing monetary compensation.

Substitute Goods

Products or services that can be used in place of each other; availability of one affects the demand for another.

Uniform Commercial Code

A full array of legal rules managing all trade interactions in the United States.