1. As of February 2024, M2 money stock for the U.S. was at 20,784 (shown below) and GDP was at 27.957, in billions of dollars. Calculate the velocity of money (V). What does this figure mean economically? [2 pts.] 2. Please refer to the graph below from FRED on M2 Money Stock at monthly frequency. Shading indicates recessions as identified by NBER. M2 (M2SL) Observation: Feb 2024: 20,783.6 (+ more) Updated: Mar 26, 2024 12:02 PM CDT Units: Billions of Dollars, Seasonally Adjusted Frequency: Monthly FRED -12 24,000 2070% 16 00 12 DO Billions of Dollars