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In 2010 the money supply m1 was 1832 billionnominal gdp was

In 2010, the money supply, M1, was $1,832 billion.

Nominal GDP was $14,660 billion.

a. What was the velocity of money measured using M1?

b. In 2010, M2 was $8,816 billion. What was the velocity of money measured using M2?

c. Why are these measures of velocity different?

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: In 2010 the money supply m1 was 1832 billionnominal gdp was

Reference No:- TGS0660379

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: In 2010 the money supply m1 was 1832 billionnominal gdp was

Reference No:- TGS0660379

Recent Questions Asked Macroeconomics

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