Policy Perspectives From the end of 2008 to the end of 2009, M1 increased from $1,638...

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Policy Perspectives From the end of 2008 to the end of 2009, M1 increased from $1,638 billion to $1,741 billion. Instructions: Round your response to one decimal place. a. By what percentage did M1 increase? b. If the Fed had used a fixed rule of 3 percent growth of the money supply, how large would M1 have been in 2009? billion Policy Perspectives From the end of 2008 to the end of 2009, M1 increased from $1,638 billion to $1,741 billion. Instructions: Round your response to one decimal place. a. By what percentage did M1 increase? b. If the Fed had used a fixed rule of 3 percent growth of the money supply, how large would M1 have been in 2009? billion