The velocity of money is represented as

Assessment: JAMB UTME - Economics - 2010 Subject: Economics

Question 1 Report

The velocity of money is represented as
Answer Details
The velocity of money represents how fast money is circulating in an economy. It is calculated as the ratio of nominal GDP (the total value of all goods and services produced in an economy at current market prices) to the money supply (the total amount of money in circulation within an economy at a given point in time). Therefore, the correct option is "Nominal GDP / Money supply".
Read lesson note on Money And Inflation (WAEC)
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