Answer
d. the price level is 2, and velocity is 4.
Work Step by Step
Real GDP $=$ Nominal GDP $/$ Price Level
$200 = 400$ $/$ Price Level
Price Level $=$ $2$
Quantity equation:
Quantity of Money ($M$) $\times$ Velocity of Money ($V$) $=$ Price of Output ($P$) $\times$ Amount of Output ($Y$)
$M \times V = P \times Y$
$M = 100$
$P = 2$
$Y = 200$
$100 \times V = 2 \times 200$
$V = 400/100$
$V = 4$
The price level is 2, and the velocity is 4.
