if your grandma was preparing to purchase a cell phone what are three things you would encourage her to research before she purc
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Answer:
The rate at which money circulates through an economy.
The velocity of money is 2.
Explanation:
The velocity of money is the rate at which money circulates in an economy. It can be defined as the rate at which money is exchanged or is used to purchase goods and services.
It is the number of times money changes hands or number of times money has been used in a given period of time.
According to the equation of exchange,
Nominal output
=
Velocity of money
=
=
= 2