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

1. The M2 money multiplier was _______

1. 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 _______%.