Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2019 in Vietnam, money supply, Ms, was 2,500 trillion Vietnamese dong, the oneyear nominal interest rate, i, was 6 percent (i = 0.06), and

In 2019 in Vietnam, money supply, Ms, was 2,500 trillion Vietnamese dong, the oneyear

nominal interest rate, i, was 6 percent (i = 0.06), and money market was in

equilibrium, Ms = kPY/i. If at the time, the propensity to hold money was k = 0.025,

what was the nominal GDP, PY, of the Vietnamese economy in 2019?

a. 150 trillion Vietnamese dong

b. 1,042 trillion Vietnamese dong

c. 2,500 trillion Vietnamese dong

d. 6,000 trillion Vietnamese dong

e. 41,667 trillion Vietnamese dong

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Economics

Authors: Dominick Salvatore

12th edition

9781118955727, 1118955765, 1118955722, 978-1118955765

More Books

Students also viewed these Economics questions

Question

1. Let a, b R, a Answered: 1 week ago

Answered: 1 week ago