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Sagot :
The calculated GDP is 13.5 trillion dollars.
Given here the money supply and money velocity is $3 trillion and 4.5 respectively.
GDP can be calculated by the formula ,
GDP = Money supply × Velocity
GDP = 3×4.5
GDP = $13.5 trillion.
The total market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the Gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation because it is a indicator of total domestic production.
Even while GDP is frequently estimated on a yearly basis, it can also be calculated quarterly. GDP is regarded as the "most potent statistical measure of national development and progress in the world." However, opponents of the growth imperative frequently claim that GDP measurements were never meant to gauge development and omit important additional externalities like resource extraction, environmental impact, and unpaid domestic work.
Money exchange rates in an economy are gauged by the term "velocity of money." It is the frequency with which funds are transferred from one entity to another. It also describes the total amount of money spent in a specific time frame.
To learn more about Gross domestic product , refer this link
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