Here are annual values for M1, M2 and for nominal GDP (all f

Here are annual values for M1, M2 and for nominal GDP (all figures are in the billions of dollars… Show more Here are annual values for M1, M2 and for nominal GDP (all figures are in the billions of dollars) for the mid-1990s: Year M1 M2 Nominal GDP 1993 1129.6 3482.0 6657.4 1994 1150.7 3498.1 7072.2 1995 1127.4 3642.1 7397.7 1996 1081.3 3820.5 7816.9 1997 1072.5 4034.1 8304.3 Compute the M1 velocity for these years. If you were going to use a monetary target, would M1 or M2 have been preferable during the 1990s? Explain your reasoning. • Show less

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