Homework Answers
Ans. We know that , Money Velocity × Money Supply = Nominal GDP.
So in 2018 , Money Supply ( M1) = $20411.924 ÷ 5.581 = $3657.39
So in 1987 , Money Supply ( M2 ) = $20411.924 ÷ 1.454 = $14038.46
In 2018 , M2 = $4806.16 ÷ 6.457 = $744.33
In 1987 , M2 = $4806.16 ÷ 1.734 = $2771.71
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