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Khadl2essicolorell
Khadl2essicolorell Khadl2essicolorell
  • 23-04-2016
  • Business
Answered

If Real GDP is $8,000, the money supply is $3,100, and velocity is 4, then the price level is

Verified Answer :

Anonymous Anonymous
  • 03-05-2016

We use the formula:

[(MoneySupply)(Velocity)] 
_____________________  =  Price level
Real GDP 

So, fill all the given details in and the resulting answer is 1.55.

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