True. How do you apply information from the book into the tests? Books don't give the answers merely provide a foundation you must build upon.
The GDP is $12 billion.
<h3>What is Velocity of circulation in Economics?</h3>
In Economics, Velocity of circulation refers to the circulation of the amount of the money during a given period of the time. The calculation of the velocity of circulation is done by dividing GDP by the country's total money supply.
The Gross domestic product (GDP) is the standard measurement of the total value of the goods and services produced in the country in the given period of time.
According to the question, Velocity of Circulation is 4 and quantity of money is $3 billion.The calculation of the GDP is as follows:-
Gross domestic product = 4×3 billions
= $ 12 billions
Learn more about Velocity of circulation here:
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Answer:
"Other cases cited by the Court do not, as implied, follow the
McReynolds reasonableness doctrine. West Virginia v. Barnette,
319 U.S. 624, clearly rejecting the 'reasonableness' test, held that
the Fourteenth Amendment made the First applicable to the
States. - C.
