Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 12CQ
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![If nominal GDP is $900 billion and, on average, each dollar is spent three times in the economy over a year, then the quantity of money demanded for transactions purposes will be
Multiple Choice
450
900
2,700
600
300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6026877c-2738-4eda-876c-deb8fbb33d41%2F94761ee4-56ac-4c26-be6d-7f0724ff2739%2Fvw2u2gs_processed.png&w=3840&q=75)
Transcribed Image Text:If nominal GDP is $900 billion and, on average, each dollar is spent three times in the economy over a year, then the quantity of money demanded for transactions purposes will be
Multiple Choice
450
900
2,700
600
300
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