Question

The average number of times a unit of money is used for making payments for final goods and services is known as.

Answer 1

Answer:

The average number of times a unit of money is used for making payments for. final goods and services is known as. Transaction velocity. Monetary velocity

Explanation:

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Answer 2

Velocity of money is the average number of times a unit of money is used for making payments for final goods and services.

1. It is only applicable for domestically produced goods.
2. High velocity implies fast movement of the unit of money.
3. Low velocity implies money is being used for investment and saving. It can be caused by liquidity trap.