If a certain household earns and spends $24,000 per year and, on the average, holds a money balance of $6,000, then the velocity of money for this household is?

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22-08-2022
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If a certain household earns and spends $24,000 per year and, on the average, holds a money balance of $6,000, then the velocity of money for this household is?

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shivanijain4931 shivanijain4931 · Answer 1 · 2022-08-27T09:57:37+02:00

If a certain household earns and spends $24,000 per year and, on average, holds a money balance of $6,000, then the velocity of money for this household is 4.

A household consists of one or more people who live in the same dwelling and share meals. It can also consist of a single-family or another group. Households are the basic unit of analysis in many social, microeconomic, and government models and are important to economics and inheritance.

The definition of household relates to family or social units living together, or household behavior. You and your family members who live with you are an example of your household. Budgets and checkbooks are examples of household budget tools.

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