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Suppose the money supply M has been growing at 10% per year, and nominal GDP, PY, has been growing at 20% per year. The data

Suppose the money supply M has been growing at 10% per year, and nominal GDP, PY, has been growing at 20% per year. The data are as follows (in billions of dollars):

2010

2011

2012

M

100

110

121

PY

1,000

1,200

1,440

V

Complete the table above by calculating the velocity V in each year. (Round your responses to the nearest whole number.)

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