1.4. Much of the economic news we read about can be reinterpreted into our "Mv = PY'

framework. Turn each of the following news headlines into a precise statement about M , v, P, or Y:

a. "Deposits in U.S. banks fell in 2015."

b. "American businesses are spending faster than ever."

c. "Prices of most consumer goods rose 12% last year."

d. "Workers produced 4% more output per hour last year."

e. "Real GDP increased 32% in the last decade."

f.

"Interest rates fall: Consumers hold more cash."