If real GDP is $40 billion, the price level 30, and the velocity of money is 24, what does the supply of money equal? Select one: a. $40 billion b. $50 billion c. $60 billion d. $75 billion e. $80 billion

If real GDP is $40 billion, the price level 30, and the velocity of money is 24, what does the supply of money equal? Select one: a. $40 billion b. $50 billion c. $60 billion d. $75 billion e. $80 billion

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: Money Growth And Intlation

Section: Chapter Questions

Problem 2CQQ

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Question

If real GDP is $40 billion, the price level 30, and the velocity of money is 24, what does the supply of money equal?

Select one:

a. $40 billion

b. $50 billion

c. $60 billion

d. $75 billion

e. $80 billion

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