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4. An alternative specification for the quantity theory of money is MV=PY, where V is the velocity of circulation. In an economy with nominal GDP (PY) of $1 bn. Then the money supply has to circulate 'ID times, so V=10. In the following table assume V=4. 7 Nominal interest rate -- a) Calculate the growth rate of nominal money supply. b} What was the rate of inflation between year 1 and year 2? c) Calculate the real interest rate in year 2. d} Calculate real money demand in each of the two years