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.
Answer: C
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