Question
Last year, U.S. money supply was $4 trillion, U.S. nominal GDP was $20 trillion, and U.S. real GDP was $16 trillion. Which of the answer
Last year, U.S. money supply was $4 trillion, U.S. nominal GDP was $20 trillion, and U.S. real GDP was $16 trillion. Which of the answer choices gives the best approximation of the maximum number of times that a dollar bill exchange last year?
Group of answer choices
More information is needed; specifically, the price level must be known.
Five times
Four times
Two times
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Economics Principles and Policy
Authors: William Baumol, Alan Blinder
13th edition
1305280595, 1305280598, 9781305465626 , 978-1305280595
