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Suppose that an economy recorded the following growth rates in a particular year: Percentage change in the real stock of money:
Suppose that an economy recorded the following growth rates in a particular year:
Percentage change in the real stock of money: 4 percent
Percentage change in nominal GDP: 6 percent
Percentage change in the price level (the GDP deflator): 1 percent
From the above information, calculate the percentage change in the velocity of money.