What are some things that would cause the velocity of money within an economy to increase?
The velocity of money is a macro economics term referring to the speed with which money changes hands, which can be determined by dividing the annual aggregate economic output (also called gross domestic product) of a country by the applicable money supply. The velocity of money can be impacted by many things. Growing optimism and confidence among consumers and businesses can increase velocity, whereas a decline in velocity can occur when people and companies become gloomier or more uncertain of their financial futures. Enhancements in technology that make transactions more efficient can also increase velocity.
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Answer the following query.
What are some things that would cause the velocity of money within an economy to increase?

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The velocity of money is a macro economics term referring to the speed with which money changes hands, which can be determined by dividing the annual aggregate economic output (also called gross domestic product) of a country by the applicable money supply. The velocity of money can be impacted by many things. Growing optimism and confidence among consumers and businesses can increase velocity, whereas a decline in velocity can occur when people and companies become gloomier or more uncertain of their financial futures. Enhancements in technology that make transactions more efficient can also increase velocity.
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