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The "velocity" of money is

Economics
JAMB 2023

The "velocity" of money is

  • A. The real money supply divided by the real GDP
  • B. The money supply multiplied by the price level
  • C. The money supply divided by the price level
  • D. The ratio of real GDP to the real money supply
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Correct Answer: Option D
Explanation

Velocity of money is the total amount of money in circulation in an economy. It is calculated as Velocity of money = GDP/Money Supply

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