11. Assume that in an economy the total money supply, Ms, is SR100; the quantity of output, Q, is 50 units of a good; and the average price, P, of this output is SR10 per unit. Calculate the income velocity of money.
11. Assume that in an economy the total money supply, Ms, is SR100; the quantity of output, Q, is 50 units of a good; and the average price, P, of this output is SR10 per unit. Calculate the income velocity of money.
Chapter16: Monetary Policy
Section: Chapter Questions
Problem 15SQ
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