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What was the velocity of money measured using m1

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Reference no: EM13321708

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?

Reference no: EM13321708

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