Gighfy3099 Gighfy3099

19-08-2022
Mathematics

contestada

Using the quantity equation of money mv=pq, calculate the money supply (m) if velocity (v) equals 4, the price level (p) equals 98, and real gdp (q) equals 115. round to the nearest whole number.

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MrRoyal MrRoyal

25-08-2022

The value of the money supply (m) is 2818

How to determine the value of m?

The given parameters are:

velocity (v) equals 4,

the price level (p) equals 98,

real gdp (q) equals 115

The equation is given as:

mv= pq

So, we have

m * 4 = 98 * 115

Evaluate the product

m * 4 = 11270

Divide by 4

m = 2818

Hence, the value of the money supply (m) is 2818

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