EBK ECONOMICS OF MONEY, BANKING AND FIN
EBK ECONOMICS OF MONEY, BANKING AND FIN
11th Edition
ISBN: 8220103112550
Author: Mishkin
Publisher: Pearson Education (US)
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Chapter 19, Problem 21AP

Suppose the money supply M has been growing at 10% per year, and nominal GDP, PY, has been growing at 20% per year. The data are as follows (in billions of dollars):

Chapter 19, Problem 21AP, Suppose the money supply M has been growing at 10% per year, and nominal GDP, PY, has been growing

Calculate the velocity for each year. At what rate is the velocity growing?

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