The country of Venezuela went through a lot of economic upheaval in over the decade of 2000- 2020. Consider the data presented in Table 8.5, which shows the growth rates of M1, real gross domestic product (RGDP), and M1 velocity, all in percent, from 2005 to 2017, which is the most recent data available. Use the quantity equation to calculate the rate of inflation () for each year using both the classic dichotomy, with velocity constant, and with varying velocity. Discuss the differences in your answers. What do the results suggest is the relationship between money supply and inflation. Do the results support the classic dichotomy?