The Income Velocity of Money

question 2

Multiple Choice

The income velocity of money:

• A) is defined in the identity MV = PY.
• B) is defined in the identity MV = PT.
• C) is the same thing as the transactions velocity of money.
• D) is the same as the number of times a dollar bill changes hands.

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Definitions:

Sequential Interdependence

A work process situation where the output of one task becomes the input for the next task, requiring coordination and timing between tasks.

Nominal Group Technique

A structured way for team members to generate ideas and identify solutions in which each member is asked the same question in relation to a work issue and requested to write as many answers as possible. Answers are read aloud and voted upon.

Delphi Technique

A method of decision making in which information is gathered from a group of respondents within their area of expertise.

Brainstorming

A creative group technique used to generate a large number of ideas for the solution to a problem.