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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 nothing nothing nothing Complete the table above by calculating the velocity V in each year. (Round your responses to the nearest whole number.)
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