Question
1. Current data . Go to the Federal Reserve Economic Database to find the following data for December or Q4 2022. Round your answers to
1. Current data. Go to the Federal Reserve Economic Database to find the following data for December or Q4 2022. Round your answers to the nearest whole number. 5 points per blank.
Monetary base https://fred.stlouisfed.org/series/BOGMBASEB = $__________ billion
M2 https://fred.stlouisfed.org/series/M2NS M2 = $__________billion
GDP https://fred.stlouisfed.org/series/GDP Y = $_________ billion
- The M2 money multiplier was _______
- The velocity of M2 was ________
2. The equation of exchange and inflation; see lecture notes.
Fill in the blanks using the equation of exchange MV = Py and the definition Py = Y. Round answers to two decimal places.
case M V P y Y
1 ___ 5 ___ 800 640
2 144 5 ___ 800 ___
If case 2 is the same economy as case 1, but a year later, the inflation rate (percentage
increase in P over that year) was _______%.
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