The velocity of the money at the given price, and amount of money in the time frame is 6.75.
What is Velocity of money?
The velocity of money is a measurement of the rate at which money is exchanged in an economy.
It is the number of times that money moves from one entity to another.
It also refers to how much a unit of currency is used in a given period of time.
MV = PY
V = PY/M
where;
- P is price
- Y is transaction in time frame
- M is amount of money
Substitute the given parameters and solve for velocity;
V = (2.25 x 6000) / 2000
V = 6.75
Thus, the velocity of the money at the given price, and amount of money in the time frame is 6.75.
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