Economists observed the following growth rates in the fourth quarter of 1995: real GDP = 2.8 percent; M1 = 7.8 percent; GDP Deflator = 2.2 percent.Given this data, the growth of velocity was approximately
A) −7.8 percent.
B) −5.0 percent.
C) −2.8 percent.
D) −2.2 percent.
E) −2.0 percent.
Correct Answer:
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