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United kingdom economy was at full employment

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Reference no: EM131037783

In 2004, the United Kingdom economy was at full employment.

Nominal GDP was 1,235 billion, the nominal interest rate was 8% a year, the price level was 130, the velocity of the circulation was a constant 9.

The quantity of money in the United Kingdom in 2004 is __________.

A. 81 billion

B. 137 billion

C. 106 billion

D. 11,115 billion

E. 8,550 billion

Reference no: EM131037783

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