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Web-Based Questions
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THE EQUATION OF EXCHANGE—WHAT IS THE CURRENT VELOCITY OF MONEY?
In the equation of exchange, MV = PQ, the velocity of money, V, is found by dividing nominal GDP (= PQ) by M, the money supply. Calculate the velocity of money for the past 4 years. How stable was V during that period? Is V increasing or decreasing? Get current-dollar GDP data from the "Gross Domestic Product" section at the Bureau of Economic Analysis Web site, http://www.bea.gov/. Find M1 money supply data (seasonally adjusted) at the Fed's Web site, http://www.federalreserve.gov/, by selecting, in sequence, Economic Research and Data, Statistics: Releases and Historical Data, and Money Stock Measures—Historical Data.





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