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12-12-2020
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Suppose the money supply in Country X is $44,000 and the nominal GDP is $88,000. Calculate the velocity of money. Round your answer to the nearest hundredth.

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12-12-2020

Answer:

Velocity of money = 2 unit

Explanation:

Given:

Supply in country X = $44,000

Nominal GDP = $88,000

Find:

Velocity of money

Computation:

Velocity of money = Nominal GDP / Money supply in country

Velocity of money = $88,000 / $44,000

Velocity of money = 2 unit

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