Question 8 (05.03 MC) If the money supply in an economy is $750 billion, the velocity of money is constant at 3, and the price level is 5, then what will be the country's real output? The nominal GDP is $250 billion. The real GDP is $50 billion. The nominal GDP is $150 billion. The real GDP is $450 billion. The real GDP is $750 billion.
Question 8 (05.03 MC) If the money supply in an economy is $750 billion, the velocity of money is constant at 3, and the price level is 5, then what will be the country's real output? The nominal GDP is $250 billion. The real GDP is $50 billion. The nominal GDP is $150 billion. The real GDP is $450 billion. The real GDP is $750 billion.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 8
(05.03 MC)
If the money supply in an economy is $750 billion, the velocity of money is constant at 3, and the
The nominal
The real GDP is $50 billion.
The nominal GDP is $150 billion.
The real GDP is $450 billion.
The real GDP is $750 billion.
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