In an economic context, which of the following accurately describe the term "velocity?" Place the descriptions below under a or b: a. accurate descriptions of velocity : b. not descriptive of velocity :
- How quickly changes in the monetary policy make their way throughout the econonmy - How quickly money circulates around the economy - How quickly your grade in this class will skyrocket if you get this question right - A variable that was predictable in the 1970s but began to behave more eratically in the 1980s - Nominal GDP divided by the quanitity of money - The speed at which economic business cycle theories come and go - How quickly that an economy's GDP grows - How quickly an economy rebounds from recessions