Question

Consider the economy of Burgerland, which only produces hamburgers. ​If the velocity of money is 25, the price of a hamburger is $5, and the quantity of money in the economy is $500, how many hamburgers did Burgerland produce?

Answer 1

2500 ham burgers

Explanation:

Velocity of money = $25

Money in economy = $500

Total money = $500 *$25

=$12500

One hamburger coast = $5

Hamburger did Burger land produce = 12500/5

= 2500