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CroweN6459 CroweN6459
wrote...
Posts: 493
4 years ago
If nominal GDP is $24 trillion and the money supply is $8 trillion, what is the velocity of money in the economy?
Textbook 
Macroeconomics: Principles, Applications and Tools

Macroeconomics: Principles, Applications and Tools


Edition: 7th
Authors:
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wrote...
4 years ago
The velocity of money is the ratio of nominal GDP to the money supply, meaning that the velocity of money in this example is 3.
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