ECN 211 Review 4

Q1) If the money supply is $300, the price level is $5 and real GDP equals $600 then the velocity of circulation is___ and nominal GDP is_________.A) 5, $3,000B) 5, $600C) 1/10, $1500D) 10, $600E) 10, $3,000. Q2) In the table above, assume that before specialization and trade, both countries

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