Define velocity of money and discuss the major determinants, Business Economics

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Define velocity of money and discuss the major determinants

1. Define velocity of money and discuss the major determinants of velocity.

2. Assume GDP is currently $14,000 billion per year and the quantity of money is $1,750 billion. What is the velocity of money? The nation collectively holds enough money to finance how many days worth of GDP expenditure?

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Business Economics: Define velocity of money and discuss the major determinants

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Business Economics: Define velocity of money and discuss the major determinants

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