Question

Your dormitory, Griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. Assume that the velocity of wizcoins in Griffingate is constant at 10,000 transactions per year. Right now, real GDP is 1,000 wizcoins, and there are 2,000 wizcoins in existence. a. What will be the value of each of the variables that make up the quantity equation?

Answer 1

The value of each of the variables that make up the quantity equation is 714.3

Step-by-step explanation:

Detailed steps are attached below.