Chapter 28, Problem 42P

### Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

Chapter
Section

### Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

# If GDP is and the money supply is what is velocity?

To determine

The velocity of money, given the nominal GDP and money supply.

Explanation

The velocity of money is pace of circulation of money in the economy. The formula for calculating velocity of money is given below.

velocityofmoney=Nominal GDPMoneySupplyv=YMS

Given Information:

Money supply, MS= $400 Nominal GDP =$1500

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