Question : In any economy, the income velocity of the hoarded money (idle) by the public is equal to ___________.
Option 1: one
Option 2: greater than one
Option 3: zero
Option 4: greater than zero
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Correct Answer: zero
Solution : The correct option is zero.
Hoarded money, also known as idle money or cash hoarding, is money that individuals or entities hold but do not actively use for transactions or investments. This money is often kept in physical cash, bank deposits, or other liquid assets. For this reason, its velocity is zero.
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