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(b) During the COVID-19 pandemic in 2020, the Fed increased the money supply dramatically, In 2021Q1, the money supply had reached $18.4 trillion, while real

(b) During the COVID-19 pandemic in 2020, the Fed increased the money supply dramatically, In 2021Q1, the money supply had reached $18.4 trillion, while real GDP was $19.1 trillion, GDP deflator was 1.15, and the interest rate was 0.08 percent, i = 0.0008. What was k in the U.S. in 2021Q1? How does this value compare with the 2019Q4 value of k = 0.00276? Please round the answer to 5 decimal points and show your calculations.

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