Which of the following statements is true?
A. If the demand for a particular currency falls relative to supply, then the exchange rate will rise.
B. The velocity of money is greater than zero and less than plus one.
C. The output of goods and services in an economy is referred to as the gross domestic product.
D. If a country is experiencing 5% inflation, then nominal GDP = real GDP.
Answer:C
Which of the following statements is true?
A. If the demand for a particular currency falls relative to supply, then the exchange rate will rise. B. The velocity of money is greater than zero and less than plus one. C. The output of goods and services in an economy is referred to as the gross domestic product. D. If a country is experiencing 5% inflation, then nominal GDP = real GDP.