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Calculate the percentage change in the velocity of money

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Reference no: EM132016384

Suppose that an economy recorded the following growth rates in a particular year:

Percentage change in the real stock of money:                               4 percent

Percentage change in nominal GDP:                                               6 percent

Percentage change in the price level (the GDP deflator):                1 percent

From the above information, calculate the percentage change in the velocity of money.

Reference no: EM132016384

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