If the velocity of money is 6 and the money supply is $4 trillion, then nominal GDP isA. $24 trillion.B. $2 trillion.OC. $1.5 trillion.D. $0.667 trillion.

The formula to calculate Nominal GDP = Money supply multiplied by Velocity of money

Answered: If the velocity of money is 6 and the…

If the velocity of money is 6 and the money supply is $4 trillion, then nominal GDP is O A. $24 trillion. O B. $2 trillion. O C. $1.5 trillion. OD. $0.667 trillion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the velocity of money is 6 and the money supply is $4 trillion, then nominal GDP is
A. $24 trillion.
B. $2 trillion.
OC. $1.5 trillion.
D. $0.667 trillion.

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