How to regulate the nations banks

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A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years. This paper will be used to help make decisions on how to regulate the nation's banks.

In an e-mail to your manager, explain the role of technology in the evolution of how money is used by consumers. What has happened to the velocity of money because of technology? As an example, calculate the velocity of money when the price level is 10, the national quantity of output is $200 billion, and the money supply is $250 billion.

Reference no: EM1374385

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