Assume that the money supply in an economy is $900 million, the velocity of money is constant at 5, and the price per unit of output is $3. What is the real and the nominal GDP? The real GDP is $1,500 million, and the nominal GDP is $3,500 million. The real GDP is $1,600 million, and the nominal GDP is $4,500 million. O The real GDP is $4,500 million, and the nominal GDP is $1,500 million. The real GDP is $1,500 million, and the nominal GDP is $4,500 million. O The real GDP is $3,500 million, and the nominal GDP is $700 million.

Assume that the money supply in an economy is $900 million, the velocity of money is constant at 5, and the price per unit of output is $3. What is the real and the nominal GDP? The real GDP is $1,500 million, and the nominal GDP is $3,500 million. The real GDP is $1,600 million, and the nominal GDP is $4,500 million. O The real GDP is $4,500 million, and the nominal GDP is $1,500 million. The real GDP is $1,500 million, and the nominal GDP is $4,500 million. O The real GDP is $3,500 million, and the nominal GDP is $700 million.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter13: Monetary Policy

Section: Chapter Questions

Problem 6E

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