In 2004 the united kingdom economy was at full employment


In 2004, the United Kingdom economy was at full employment.

Nominal GDP was 1,235 billion, the nominal interest rate was 8% a year, the price level was 130, the velocity of the circulation was a constant 9.

The quantity of money in the United Kingdom in 2004 is __________.

A. 81 billion

B. 137 billion

C. 106 billion

D. 11,115 billion

E. 8,550 billion

Solution Preview :

Prepared by a verified Expert
Business Economics: In 2004 the united kingdom economy was at full employment
Reference No:- TGS01383682

Now Priced at $10 (50% Discount)

Recommended (90%)

Rated (4.3/5)