What was funlandia velocity of money in 2021

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Question: Suppose there are two goods in Funlandia, cosmic brownles and pretzel buns. In 2021. Funlandia produced 200000 units of cosmic brownies and 40000 units of pretzel buns. The price of one pretzel bun is $2, while the price of one cosmic brownie is at $0.50. Assume Funlandia's central bank precisely controls money supply and sets it at $20000. What was Funlandia's velocity of money in 2021?

Reference no: EM133328125

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