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Suppose the liquidity preference function is given by: Y L(I) 1,000/ 10 Calculate velocity for each period, using the money demand equation: V Y LOY)

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Suppose the liquidity preference function is given by: Y L(I) 1,000/ 10 Calculate velocity for each period, using the money demand equation: V Y LOY) along with the following table of values. (Round your responses to two decimal places) Period 1 12.100 0.06 Period 2 12,400 0.08 Period 3 12.250 0.03 Period 4 12.500 0.06 Period 5 12,800 0.08 Period 6 13,200 0.03 Y(in billions) Interest rate Velocity Period 7 13.400 0.06 ry es

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