1 answer

Consider the equation of exchange, MxV-P x Y, where M is the supply of money, V...

Question:

Consider the equation of exchange, MxV-P x Y, where M is the supply of money, V is the velocity of money, P is the price level, and Y is real output Which statement best defines M? The quantity of goods and services produced within an econony. O The average level of prices for a given basket of goods. The total value of financial assets that are considered money. O The average number of times a dollar is spent in a given period of time.Select the components or inputs associated with the production function where gross domestic product (GDP) is the output. aggregate supply aggregate demand capital deepening population human capital

Consider the equation of exchange, MxV-P x Y, where M is the supply of money, V is the velocity of money, P is the price level, and Y is real output Which statement best defines M? The quantity of goods and services produced within an econony. O The average level of prices for a given basket of goods. The total value of financial assets that are considered money. O The average number of times a dollar is spent in a given period of time.
Select the components or inputs associated with the production function where gross domestic product (GDP) is the output. aggregate supply aggregate demand capital deepening population human capital

Answers

Q1. Option 3. "M" represents the money supplied which the total value in terms of money
Q2. Option 3,4 and 5. The components of output or GDP are Land, labor, capital and entrepreneurship.

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