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toripollard8 toripollard8
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6 years ago

Question 1.

If income is $30 billion, the price level is 3, and the stock of money is $18 billion, what is the velocity of money?



▸ 1.4

▸ 1.8

▸ 5

▸ 180

Question 2.

The quantity theory of money implies that a 3% increase in the money supply will eventually cause



▸ a 3% increase in real GDP.

▸ a 3% increase in disposable income.

▸ a 3% increase in the price level.

▸ a 3% decrease in the unemployment rate.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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shamanieshamanie
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6 years ago
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