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Economics
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19 Oct 2020

If M1 was $2.4 trillion and nominal GDP was $18.9 trillion, calculate the velocity of M1.

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Macroeconomics
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Velocity and Quantity equation
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Darryn D'Souza
Darryn D'SouzaLv10
19 Oct 2020

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Related questions

If in some year real GDP was $5 trillion and the GDP deflator was 200, what was the nominal GDP?

a. $2.5 trillion

b. $10 trillion

c. $40 trillion

d. $100 trillion

1.

Given nominal GDP of $4.2 trillion and a GDP Deflator is 120, we can conclude that real GDP is equal to:

A. $3 Trillion.
B. $3.5 Trillion.
C. $3.9 Trillion.
D. $5.2 Trillion.

2.

Say real GDP is $9.2 trillion. If personal consumption is $5.1 trillion, investment is 1.8 trillion, and government purchases are 2.5 trillion, then:

A. personal consumption is less than exports.
B. exports exceed imports by $0.2 trillion.
C. imports are equal to exports.
D. imports exceed exports by $0.2 trillion.

3. If nominal output is $4.2 trillion and the GDP Deflator is 5 percent higher than its base year, then real output is:

4. If the CPI in 1979 was 72.6 and it was 82.4 in 1980, then the inflation rate from 1979 to 1980 was?

5. Housing comprises roughly 40% of the market basket in the CPI. If the price of housing rises 15% in one year while the other components in the CPI rise by 10%, the CPI will rise by 12%. True or False?

Velocity remains constant at 8 and the money supply increases from $200 billion to $300 billion.

The original, nominal GDP was $ __ trillion? (Round your response to two decimal places)

The new, nominal GDP is $ __ trillion? (Round your response to two decimal places)

If real GDP increased by 10%, then the price level increased by __ %? (Use the theory of inflation to solve this question.)

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